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Wall Street still irrationally exuberant over Tesla shares

In a world where electric cars are far from the norm, it seems odd to us laypeople that you can't buy a share of Tesla stock (ticker symbol TSLA) for less than $230. But a research note issued Monday from Goldman Sach's respected team of auto industry analysts (seen in PDF form in our gallery) has added fuel to the irrational exuberance fire, guaranteeing that Tesla's stocks should hover at these seemingly unreasonable prices for some time.
Goldman Sachs analyst Patrick Archambault compared Tesla CEO Elon Musk to Apple's Steve Jobs, saying the Model S is a lot like the iPhone. The major difference is that it will take a lot longer for Tesla's electric cars to make a sizable dent in the auto industry, Archambault said, than it took for the iPhone to take over the smart phone world. If Tesla rolls out a non-luxury car in the next few years as is rumored, Archambault predicts the company could be selling 500,000 electric cars a year by 2022 or 2023. Based on those projections, the Goldman Sachs analysts says a fair price for Tesla's stock right now is about $200 a share.
Which, in the upside-down world of Wall Street, means the current share price of around $238 is nearly $40 overvalued. But that hasn't stopped traders from pushing up the price of Tesla's stock today between $3 and $4 a share. Over at Oilprice.com (subscription), contributor Martin Tiller on Friday was already sounding the alarm bells, saying Tesla share's are overpriced, despite the promising technology.

Tour a Tesla showroom, get inside Model S on Google Street View

Even in the US states (like Texas) where Tesla is not able to sell cars at one of its stores, residents can now visit a virtual EV sales space. Thanks to Google Street View and the company's high-tech cameras, a digital visit to a Tesla store in Seattle on Westlake Avenue is now possible by clicking here. A slightly misshapen exterior view is available here. Tesla Tweeted its excitement about the virtual visitor's pass – fitting for a company that has to sell some of its vehicles online – and so we spent some time clicking around in the studio. It's so immersive we almost wanted to knock on the restroom doors and touch the exposed battery pack "skateboard" in the back room. Go ahead and tour the showroom in Street View here, and see if you can figure out how to climb inside one of the Model S EVs parked inside (it's possible). We've put together a gallery of screen grabs of our favorite odd-looking and stretched images from the store as well as a fun example of how this just doesn't quite compare with being there (day turns to night instantly, if you click just right around the red Model S). Still, it's fun. If you'd like to visit another plug-in vehicle in a dealership, check out this Chevy Volt at Bachman Chevrolet. Or, why not, the Nissan Engine Museum here. Anyone got other, similar options?

Governor Rick Perry backs bid for Tesla Stores in Texas

It's funny how the prospect of a $5-billion investment in a state has the ability to focus minds. Take Texas, for example. The Lone Star State has long had laws prohibiting automakers from selling directly to consumers, even if the manufacturer didn't already sell through franchise dealerships. Last year, a bill went to the legislature that would have allowed Tesla Motors to sell directly to its customers, but despite entreaties and a visit from CEO Elon Musk, lawmakers didn't pass it. Sure, Texans can still buy the a Model S, but the process is a bit cumbersome. With the prospect of an expensive battery gigafactory and the jobs it would bring, however, Texas Governor Rick Perry taken to the airwaves cable news outlet Fox Business to make his supportive position known. To be fair, the one-time Republican Presidential hopeful has been in favor of Tesla's sales model for some time. The difference now is he is being proactively vocal about it. Appearing on Opening Bell with Maria Bartiromo, Perry spent close to eight minutes pitching a new approach to dealership laws in his state, at one point referring to the traditional dealer model as "antiquated" and encouraging legislators to have an "open and thoughtful" conversation and decide whether or not they want to lead the country when it comes to manufacturing. If you think that he has become warm and fuzzy about environmental issues, Perry reminds us after a brief discussion on 2014 and 2016 elections – yes, he may run again – that he has no qualms about continuing to rely on fossil fuels, stating that he thinks the most important thing the federal government can do to impact the economy right now is to "say yes" to the Keystone XL pipeline. You can view the segment in its entirety be simply scrolling below.