In a report, JP Morgan warned investors not to invest in Tesla shares before December 21 when it will enter the S&P500 because it is overpriced!
At the close of Wednesday, the share of Tesla fell by almost 7% and the fortune of Elon Musk decreased by about 8.9 billion dollars ...
With this fall he was deprived of the second place of the richest man in the world and he is now in the third place.
It’s important to mention that Tesla is one of the most controversial shares of Wall Street since analysts are divided. 36% suggest buying, 31% waiting and 33% selling!
Despite these developments, Tesla continues to record profits of over 600% since the beginning of the year!
Tesla as a stock was always overpriced and still is. The fundamentals of the company throughout the years always showed high risks and low profits. The main difference though, that led to the record high we see this year is that now investors see potential, have tangible examples of future growth and are willing to pay more in order not to miss out on future profits.
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