Title pretty much says it. Tesla is down 12% in premarket trading today and allready down over 50% from it's high in december.
Current P/E of 100+ is rediculous and I personally think it should be worth less then 25$ a share. Hoever, been following this stock and honestly: Never had the balls to short it. seeing how irrational this stock behaved and how many times short sellers got screwed. Never have I been more convinced a stock is incredibly overvalued though but I was to chicken.
I think the bubble has bursted and it wil keep dropping from where we are.
Tesla is the main reason why I am not "buying the dip" with ETF's. it's my example of how the US stock market is still heavily overvalued right now.
Now that earnings, cashflow and margins are in decline. how low do you think it will go?