“Some critical mass of the market has concluded that Tesla will win, I guess,” said Musk on the stock’s increases. “I’ve gone on record already saying the stock prices have been high, and that was well before the current level. But also if you ask me, do I think if Tesla will be worth more than this in 5 years? I think the answer is yes.”
In May, Musk tweeted that Tesla’s stock price was “too high,” which sent it down 12% that day. However, since he made those remarks, shares are up almost 200%.