Analyst: Tesla Overvalued
Wochit Entertainment
2020-09-10
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On Friday, Tesla was excluded from the S&P 500 index.
In a note released on Wednesday DataTrek said it was a "brave" decision.
The note said that the exclusion of Tesla surprised DataTrek's cofounder Nicholas Colas.
Colas speculated the S&P 500's committee think Tesla is "profoundly overvalued."
Business Insider reports that Tesla has a market cap of $465 billion.
Tesla "sits on shakier fundamentals," likely contributing to the committee's decision to exclude Tesla, the note said.
Tesla traded at a trailing 12-month price-earnings multiple of 913x on Wednesday, according to data from YCharts.com.
In a note released on Wednesday DataTrek said it was a "brave" decision.
The note said that the exclusion of Tesla surprised DataTrek's cofounder Nicholas Colas.
Colas speculated the S&P 500's committee think Tesla is "profoundly overvalued."
Business Insider reports that Tesla has a market cap of $465 billion.
Tesla "sits on shakier fundamentals," likely contributing to the committee's decision to exclude Tesla, the note said.
Tesla traded at a trailing 12-month price-earnings multiple of 913x on Wednesday, according to data from YCharts.com.
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