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D_Master81

(2,245 posts)
1. Tesla was always ridiculously overvalued
Wed Nov 9, 2022, 08:52 AM
Nov 2022

Last edited Wed Nov 9, 2022, 10:55 AM - Edit history (1)

Tesla was a meme stock before such a thing was a thing. Kathy Wood and Reddit pushed it and got it into the S&P 500 which meant a bunch of the 500 tracking funds had to buy it. At one point it’s price to earning ratio was over 1100 to 1. When it was right behind google in market cap I was like what is going on here?

I think now that the meme stockers are selling, other EVs are coming out and Elon has been massively selling his shares the shine is off Tesla. I can’t hate on Tesla though, I made about 60% on my Tesla investment in 6 months before selling.

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