• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Investing Tesla stock is still ‘egregiously overvalued’: Analyst
Investing

Tesla stock is still ‘egregiously overvalued’: Analyst

by December 9, 2022
by December 9, 2022 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Shares of Tesla Inc (NASDAQ: TSLA) have been cut in half this year but a Roth Capital Partners’ analyst still does not see them as attractively valued.

The bear case for Tesla stock

According to Craig Irwin, the leading U.S. electric car manufacturer should not be worth more than $85 a share – that’s down another 50% from here. On CNBC’s “Squawk Box”, he said:

I’ve seen Tesla as egregiously overvalued for about a year and a half. Elon Musk is a very talented executive; Tesla is a very important company but I don’t believe it’s worth more than a company like Toyota.

Part of the reason for the sell-off, especially more recently, is concern that the billionaire chief executive is distracted following his $44 billion buyout of Twitter.

But the Tesla stock is grossly overvalued even without that overhang, Irwin added.

Tesla is just an automobile company

Reason why bulls value Tesla stock as more than a typical, run-of-the-mill automobile company is because they see it as much more than that.  

The idea is that the multinational will eventually turn into an autonomous driving company that will change transportation as we know it or perhaps into a solar business. But Irwin does not buy into any of that.

I think those are false arguments. I don’t see robo-taxis anytime soon. There’s a lot of other things people point to – software etc., I don’t think Toyota, Porsche, Daimler, or someone else can’t do that.

Nonetheless, Tesla had record operating profit in its latest reported quarter as Invezz published here.

The post Tesla stock is still ‘egregiously overvalued’: Analyst appeared first on Invezz.

You Might Also Like
  • PayPal partners with MetaMask to allow users buy crypto
  • 4 takeaways after the last Federal Reserve rate hike
  • Ford is now the second best-selling EV maker in the United States
  • Using the DXY to forecast US equities ahead of the December CPI report
Share
0
FacebookTwitterPinterestWhatsapp

previous post
America’s Allies Should Fear Abandonment
next post
Bankman-Fried says he’s willing to testify before US House Committee

You may also like

Circle cancels plans to go public amid return to profitability

December 5, 2022

What Is An Implied Volatility Crush

January 16, 2023

U.S. army picks Textron over Lockheed Martin for a big...

December 6, 2022

Dow Jones, the S&P 500, and Nasdaq ahead of U.S....

November 27, 2022

Macy’s lowers its revenue guidance for the holiday quarter

January 8, 2023

Cramer’s top three bank stocks for 2023

December 21, 2022

Fed’s preferred inflation gauge eases to 6.0%: time to turn...

December 1, 2022

Signet stock up 20%: ‘we’re prepared for a strong holiday...

December 7, 2022

Are energy stocks worth owning for 2023?

December 27, 2022

Mastering the Art of Options Trading: Tips for Small Accounts

May 5, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past...

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Dow Jones, the S&P 500, and...

    November 27, 2022

    Diversification Dos And Don’ts

    February 5, 2025

    UK retail sales slip 0.4% as...

    December 16, 2022
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here