“I used to be actually shocked that Tesla did in addition to it did,” Munger stated in an interview with CNBC’s Becky Quick that aired on “Squawk Box” on Tuesday. “I don’t equate Tesla with bitcoin. Tesla has made some actual contributions to this civilization. Elon Musk has executed some good issues that others could not do.”
“We’ve not had a profitable new auto firm in a protracted, very long time. What Tesla has executed within the automotive enterprise is a minor miracle,” Munger added.
Tesla grew to become one of the vital invaluable firms on the earth, with a market capitalization over $600 billion. The automotive marker delivered 343,000 vehicles within the final quarter.
Shares of Tesla are down 45% this yr after a close to 50% rally in 2021 and a whooping 743% advance in 2020.
Take heed to the complete interview with Munger on the Squawk Pod podcast.