Tesla Stock Sits Nearly 30% Below Its High and Still Trades at 330 Times Earnings
A drawdown this deep usually leaves a stock cheaper. This one mostly reveals how expensive the shares were at the peak.
Overview
Tesla (NASDAQ:TSLA) trades at about $355 as of this writing, about 29% below its 52-week high of $498.83. For most stocks, a decline that deep leaves the shares meaningfully cheaper.
In one narrow sense, it has here. But Tesla still costs about 330 times earnings.
Details
Has the decline made the stock cheaper on any measure the business supports? I don't think so. Here's a closer look at why.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.