Markets

Baron Partners Fund Commentary on CoStar Group

We had an opportunity to add to our investment in Tesla Motors, Inc. ( NASDAQ:TSLA ) earlier this year. We had never previously invested in a car manufacturer. Tesla is not a traditional car manufacturer. We think that the Model ' launch that occurred several weeks ago can show you why. On the last day of the quarter, Tesla launched Model ', a car intended to bring the EV promise to the mass market. Its starting price is $'5,………. One of our analysts attended the event and returned eager to own one. During the first week, Tesla received '-5,……… orders for this car with no sales and marketing efforts. The number now is closer to 4……,……… (or $-8 billion of order backlog). This is equivalent to -4 million people around the world ordering an iPhone they will get in two years and never had an opportunity to see first hand. This is the biggest product launch in history. It is rare to find a company that is transforming the face of a large industry and Tesla is doing just that, taking the car industry into the --st century, making cars better, safer and cheaper all at once. (Gilad Shany)

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From Baron Partners Fund f irst quarter -…-6 commentary.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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