TSLA - Tesla Is Dead Money

2024-03-13 10:00:22 ET

Summary

• Tesla, Inc. has seen its share price decline more than 50% from its peaks, and we don't see that changing.
• The company's growth rate and margins declined substantially year-over-year, and the company expects that to continue.
• Lack of additional full self-driving purchases as the company remains behind could hurt margins even more.

Tesla, Inc. ( TSLA ) is down more than 50% from its late-2021 peak, but continues to have an almost $600 billion market cap. As the electric vehicle ("EV") company's growth continues to collapse, as we'll see throughout this article, Tesla stock remains heavily overvalued. That means now is still a great time to bet against the company.

Tesla Results Summary

The company is now consistently profitable; however, those profits still need to be contrasted to an almost $600 billion market cap....

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