Hogfighter
Professional Lurker
How narrow of a band are you thinking?
I think there is no way that they remain in the same narrow band (say 200-260, or whatever) until actually delivering 400k a year. There is no good reason why this stock should not trade at least at 5x revenues (currently at 7.75x). They look poised to make $8+ billion in revenue this year, which means $40B market cap, which means new ATH by next February, unless something goes terribly wrong.
The price/revenue figure is one that I've followed closely the past 3 years with TSLA. Yes, the past 4 quarters show that we're above 7x revenues, but that figure is misleading due to the growth rate. For 2016, we should see roughly 8bil in revenue which puts the number below 4x. Stalwart stocks like MO are trading at 5x. Of course, ICE manufacturers like F trade at around 1/3x. Which brings us back to the age-old argument that if TSLA is just another car company, it is wildly overpriced. But if it is anything other than a traditional car company, than it is wildly underpriced.