Tesla (TSLA) $1,544 - Overvalued?
Updated: Jul 13
This past week Tesla (TSLA) closed on Friday at $1,544 - up from $178 on June 3, 2019. Tesla has gained over 767% in about 13 months. Apparently, the top insider Elon Musk, thinks Tesla is over priced at $1,544. That was a Tweet from May 1, 2020 when the stock was at about $790. If Elon thought it was too high at $790 two months ago I would think it is really too high now with a gain of about 95% since then!
Morgan Stanley recently warned that Tesla stock, at over $1,000 per share, is grossly overvalued ready to plunge because investors are treating it like a high-growth tech company. It is not! It is a car company. One analyst states that the valuation is more in the $650 price target and investors are ignoring a host of risks.
There are a few short sellers! In fact, Tesla is on the verge of becoming the first company to have $20 billion in short interest. Recently, the value of shares of Tesla that have been sold short climbed to $19.95 billion.
It is an interesting situation. Will the shorts win? No one can know for sure. We thank all our subscribers and followers!