Billionaire: Tesla Stock Could Double 2 to 3 Times in 10 Years
After rising 830% over the past 12 months, Tesla (NASDAQ: TSLA) now boasts a $430 billion market capitalization. You'd think the stock couldn't go much higher after such a wild run-up, but a billionaire investor who has held shares of Tesla since it had a market cap of about $40 billion thinks there's still enormous upside to come for this growth stock.
The billionaire making this call on Tesla stock is Ron Baron -- the legendary investor who oversees Baron Capital. Baron Capital initially accumulated 1.6 million shares at a split-adjusted cost basis of about $44. Baron has done well with his Tesla stock, to say the least.
Image source: Tesla.
Source Fool.com
