Tesla (NASDAQ: TSLA) has been labeled as a significant “meme stock” by Jeff Sonnenfeld, Senior Associate Dean at the Yale School of Management, during a recent interview with CNBC. Sonnenfeld’s assertion reflects concerns among analysts about Tesla’s high price-to-earnings (P/E) ratio, which stands at over 200, markedly higher than comparable tech firms like Apple (35-36), Nvidia (25-30), and Microsoft (around 36).
Analysts have frequently noted that Tesla is viewed as an atypical stock, often traded based on public sentiment rather than traditional fundamental analysis. Ryan Brinkman from J.P. Morgan indicated that Tesla shares appear disconnected from their underlying fundamentals. Conversely, Dan Nathan, previously skeptical about Tesla, recently expressed a more optimistic view, citing positive technical indicators and investor sentiment surrounding the stock.
In a separate development, Elon Musk made headlines by purchasing $1 billion in Tesla stock, marking his largest acquisition of the company’s shares to date. Shares of Tesla were priced at approximately $423.76 as of 3:25 p.m. ET at the time of reporting.
- Why it matters: Tesla’s high P/E ratio raises questions about its valuation relative to other tech giants, affecting investor confidence and stock market trends.
- The latest: Elon Musk’s recent purchase of $1 billion in Tesla stock could influence market sentiment and the stock’s performance moving forward.
Source: https://www.teslarati.com/elon-musk-calls-out-viral-claim-10k-tesla-optimus-deal/
Source: https://www.teslarati.com/elon-musk-calls-out-viral-claim-10k-tesla-optimus-deal/