Tesla’s 2Q23 Earnings Confirm My Thesis That TSLA Is One Of The Most Overvalued Stocks

Tesla’s (TSLA) second quarter earnings confirm my view that the stock is one of the most overvalued stocks in the market.

Tesla’s stock has been rising this year amid a sudden shift in overall market sentiment, with many investors now pricing in a soft-landing scenario after a brutal past year of Federal Reserve rate hikes. But the shift in market sentiment doesn’t change the fact that Tesla’s stock fundamentals are completely disconnected from reality. Tesla is a terribly overvalued stock that I think is worth closer to $26 per share instead of its current price of about $290 per share.