Tesla mkt cap $383 billion. P/E ratio over 1000.
— Ronnie C (@RonnieChopra1) August 21, 2020
Systemic Risk is More Mispriced Than Anytime in History.
We Saw It Proven in March.
Now We Are In A Systemic Freefall.
All That is Left Is The Collapse.
— Paranoid Bull (@paranoidbull) August 21, 2020
New York (CNN Business)Tesla is preparing to split its stock, making it more affordable for average investors. It may need to do another one pretty soon if its shares keep surging.Tesla (TSLA) has skyrocketed 50% since announcing the stock split on August 11. It now trades at nearly $2,100 a share.Once the split goes into effect on August 31, current Tesla investors will get five shares for each one they own. That will cut the price by a fifth, to almost $420 a share. The market value of Tesla, now hovering around $390 billion, will remain the same.But does Tesla deserve to trade at such a high valuation? While the Elon Musk-led company is generating consistent profits, its sales are dwarfed by the major auto giants.Tesla is expected to generate nearly $30 billion in annual revenue this year. That’s nothing to sneeze at. But Fiat Chrysler (FCAU) is estimated to report $100 billion in sales for 2020. GM (GM) and Ford (F) are each forecast to post annual revenue of more than $110 billion.Still, Tesla’s market value is now more than four times the combined market caps of Detroit’s Big 3.
The author of the best-selling book “Rich Dad, Poor Dad,” explained this week a “major banking crisis is coming fast.”
DDTG ALERT: I’m out on crypto because coins don’t always go up. Stocks on the other hand continue to always go up. pic.twitter.com/8zfOvNqEVX
— Dave Portnoy (@stoolpresidente) August 21, 2020
This market is corrupt and everyone who sells is as anything but corrupt. This is public abuse by white collar criminals. Enriching themselves at the expense of the public. Using public funds and undermining democracy and our institutions. They canceled markets and public trust
— NA (@nxarria) August 21, 2020
— Hoz (@Hoz94s) August 21, 2020