Is Tesla overvalued? With the company’s shares trading up more than 400 percent this year, some have argued that it is. Indeed, New York University finance professor Aswath Damodaran believes Tesla is worth $67.12 per share — far below the $164.89 at which its stock currently trades. If he’s right, that would make Tesla a great stock to short. But Tesla CEO Elon Musk advises against it.
“Our valuation right now [assumes] a lot of good execution on our part in the future,” Musk told Fox News Thursday. “And we’re going to do our best to work hard and make sure that investors are not disappointed. … In the past, I said it’s really crazy to short Tesla. Is it so crazy to short Tesla right now? I mean, it’s not as crazy, but I still think it’s probably not a good idea.”
What else is he supposed to say, right?
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