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Last October Tesla had a market cap of $1 trillion and was worth the 10 largest auto manufacturers combined. It’s a stock that has been way overvalued. The $5
by suture 4y ago
Last October Tesla had a market cap of $1 trillion and was worth the 10 largest auto manufacturers combined. It’s a stock that has been way overvalued. The $575 billion drop in market cap is itself more than the market cap of any other auto manufacturer. These facts make the drop in Tesla’s share price noteworthy and newsworthy. Then there is Elon’s oversized ego and his legion of sycophants to add to the newsworthiness of it all.
- TapWaterBandit 4y agoTesla is definitely overvalued but so is every tech stock (and most other stocks besides). We have also seen an enormous boom/bust occur in the crypto sphere that is ongoing and many property markets around the world are looking at some degree of price correction. It is a strange framing of the article to say "investor patience wears thin" leading to a decline in Tesla specifically when the whole stock market is declining globally alongside numerous other asset classes.