Tesla the New Amazon, in for a 'Bumpy, Positive Ride,' Loop Ventures' Munster Says
Tesla (TSLA) - Get Report could potentially become the next Amazon.com (AMZN) - Get Report, Loop Ventures founder Gene Munster told CNBC today.
"Most people think of [Tesla] as an electric car company, but their mission statement is to accelerate the globe's transformation to renewable energy, " he said. "When you start thinking about that you can see them grabbing market cap from energy companies which are some of the largest market-cap companies," Munster said.
Even with Amazon shares roaring to new highs and flirting with a $1,000 per share milestone, Munster contends Tesla is the better investment.
"Tesla is a controversial story," Munster said. "People don't understand what this company's mission statement is. Much like Amazon in its early days when the company was 'just' selling books, he said.
Munster believes Tesla has substantial growth opportunity, especially in the production of electric vehicle batteries.
"I would, pun intended here, buckle up. This is going to be a bumpy but positive ride for Tesla in the years to come."
(Amazon.com is held in the Growth Seeker portfolio. See all of the holdings with a free trial).
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