Billionaire Ron Baron Says Tesla Could Still Go Up 10x From Current Levels

Billionaire investor Ron Baron took to CNBC this morning to do what he does best: insist, seemingly with no consideration on where Tesla’s current stock price is, that there’s more upside to come.

And why wouldn’t he?

It’s a formula that has worked for Baron, who has been able to ignore the Autopilot deaths, allegations of securities fraud, workplace safety issues, mysterious accounts receivable and inability to consistently generate an annual profit while riding a Tesla gamma squeeze from $300 to over $900 in just a matter of a couple of years.

On Tuesday, Baron said he thinks “there’s 10 times more to go” with Tesla stock and he also claimed that SpaceX would grow by a multiple of 20 in the next 10 years. “That is an amazing opportunity as well,” Baron said, unable to get his investing fill of the boy-wonder Elon Musk. 

When asked about when he was going to sell his Tesla, Baron responded: “I would like to get more money to be able to buy more Tesla.” 

But as noted short seller and Tesla skeptic Jim Chanos pointed out on Twitter Tuesday morning, Ron Baron’s firm was selling Tesla shares this year, according to Bloomberg. 

Actually @SquawkCNBC, according to my BBG, Ron Baron’s firm was selling $TSLA shares this year. pic.twitter.com/1f7Rs9giTU

— Diogenes (@WallStCynic) June 9, 2020

Baron had said back in February that Tesla could hit $1 trillion in revenue within 10 years. He is up 8% to 9% this year so far.

You can watch Baron’s full appearance, including his thoughts on macro (buy the dips, big surprise), Activision, Hyatt, Netflix and Charles Schwab here: