Is Tesla's Stock Overvalued or Destined to be Next Amazon?
I wrote about electric car maker Tesla Motors Inc. back in May, shortly after buying the stock for my personal portfolio. I was interested in adding Tesla to my Strategy Lab portfolio as well, but the stock had already jumped from my mid-$50 (U.S.) purchase price to nearly $70. Given the rapidity of the rise, I said I would love to see the stock drop significantly, making it cheaper to buy.
What’s going on here? Another Amazon-style growth story? Or simply a stock that has become massively overvalued because of investors’ gullibility?
I tend toward the former viewpoint – with caveats. And I base my enthusiasm on an appreciation of just how far Tesla has already come.
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