Dark Stone Capital

As of today, Tesla trades at approximately $445 per share, boasting a market capitalization of around $1.48 trillion. SpaceX, still privately held, is valued at about $800 billion in recent secondary market transactions, with ambitions to hit a staggering $1.5 trillion valuation in a planned mid-to-late 2026 initial public offering (IPO). However, recent buzz—fueled by investor Chamath Palihapitiya's bold prediction on the All-In Podcast suggests an alternative path: SpaceX opting for a reverse merger into Tesla instead of going public independently. Palihapitiya argues this move would allow Musk to consolidate control over his "seminal assets" under one

In a recent January 3, 2026, interview with Business Insider, Porter Collins—famous for his role in "The Big Short"—called Tesla (TSLA) the "poster child" for overvalued stocks, citing its nearly 300x forward 2026 earnings multiple compared to Nvidia's 45x. He dismissed it as a "meme stock" driven by hype around Elon Musk's visions for robotaxis, Optimus robots, and Full Self-Driving (FSD), rather than solid fundamentals, especially after Q4 2025 deliveries fell 16% YoY to 418,000 units.

But Collins' analysis misses the mark by viewing Tesla through a traditional auto lens. Tesla isn't just a car company, it's