Tesla is 1,000% overvalued, market price 'completely disconnected from reality', one analyst says
"Tesla is a terribly overvalued stock that we think is worth closer to $26 per share instead of its current price of about $290 per share," he wrote on Seeking Alpha. The carmaker's shares peaked at $299.29 this week, before they fell almost 10% Thursday in response to its latest financial results.
Trainer points out that Tesla cars are no longer oversubscribed and questions the company's"lackluster" production figures."Tesla is no longer selling every vehicle it can make," he said. After plugging in the numbers, he concludes that Tesla is worth just $26 per share – 90% below its current valuation.
Following the earnings release, Tesla shares tumbled almost 10% on Thursday – its worst day since April.
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