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'Almost a mass psychosis': Tesla's 250% stock rally makes no sense, Bob Lutz says

9 days ago   |   By

REUTERS/Mike Blake
Bob Lutz can't explain why Tesla stock has rocketed more than 250% in six months.
The former GM, Ford, and Chrysler executive said on the BBC Business Daily podcast this week that Goldman Sachs analysts are asking him if he has "any idea what the heck is going on."
"Nobody can explain it," Lutz said. "It's driven purely by psychology or almost a mass psychosis."
Lutz also downplayed the growth prospects of electric vehicles, arguing they'll only make up 15% of global car sales in 2030.
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