πππTesla $Tesla Motors(TSLA)$
There are good news all round for Tesla. First up Tesla's year todate China EV registration has turned positive in Q3 24 and are now up 8% compared to previous year quarter. Tesla sold 78, 856 EVs in November compared to 65,504 EVs in the same month last year.
Tesla is also releasing its low cost model with a price tag of USD 30,000 in Q1 25. Then there is the Optimus humanoid robot project plus the launch of Robotaxi in 2025.
However at the last closing price of USD 418.10, I believe that Tesla is overpriced. Tesla's P/E ratio is 114. In contrast $Alphabet(GOOGL)$
So at this high level, I believe that the Tesla is becoming overextended. The stock is now more than 70% above its 200 day moving average. Even Cathy Wood has been selling Tesla's shares recently. So it is best to proceed with care when it comes to investing in Tesla.
Elon Musk is undoubtedly the world's richest person now with a personal fortune of USD 400 billion. This is a historic first time anyone has reached that level.
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