Some of you may recall that Tesla Motors had a tremendous run-up in price in anticipation of the announcement of their Model 3 last April. I reported on the event, and the Model 3 (one of which I’ve got on order for myself) looks absolutely sensational.
The stock, however, has exhibited a pretty stunning example of “buy the rumor, sell the news”, as it has lost 25% of its value since the “Model 3 peak”. The stock is still very, very richly valued. Again, I think Tesla’s products are fantastic, but the equity on the company is uber high (so to speak).
