Tesla is indeed a grossly overvalued stock at its current price
Show Me the Money! 18 June, 2020, by Vladimir Rojankovski, Grand Capital Chief Analyst:
Many Internet media yesterday highlighted the data on Tesla’s (TSLA) registrations which plummeted by a combined 37% in April and May in California, the company's largest market in the United States. According to an earlier released Wall Street Journal report, data from the research company called Dominion Enterprises showed registrations fell 16% on the year in April to 6,260, while plunging 70% to 1,447 in May. No nationwide data has been made available yet.
This prompts us to think Tesla is indeed a grossly overvalued stock at its current price of $992 apiece, and its bounce back from the $1000 level may be just a beginning.
Many Internet media yesterday highlighted the data on Tesla’s (TSLA) registrations which plummeted by a combined 37% in April and May in California, the company's largest market in the United States. According to an earlier released Wall Street Journal report, data from the research company called Dominion Enterprises showed registrations fell 16% on the year in April to 6,260, while plunging 70% to 1,447 in May. No nationwide data has been made available yet.
This prompts us to think Tesla is indeed a grossly overvalued stock at its current price of $992 apiece, and its bounce back from the $1000 level may be just a beginning.