“Tesla’s stock fundamentals are completely disconnected from reality,” says New Constructs CEO David Trainer.
Shares of Tesla Inc. and Netflix Inc. are “terribly overvalued,” according to independent equity research firm New Constructs.
“Tesla’s second-quarter earnings confirm our view that the stock is one of the most overvalued stocks in the market,” wrote New Constructs CEO David Trainer, in a note. Ford Motor Co.’s F stock fell earlier this week after the automaker cut prices on its F-150 Lightning electric trucks. Ford cut prices by as much as 17% for some models. General Motors Co. GM recently enjoyed a 19% jump in second-quarter auto sales.
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