A lot has been written about Tesla. And TSLA stock is overvalued. In a lot of ways markets could point to it and say that it exemplifies all that is wrong with today’s stock market. Certainly, if Benjamin Graham were alive today, it’d be a stretch to imagine him investing in Tesla shares.
But that’s not the point. Tesla is the granddaddy of EV stocks.
Its recent 5-for-1 forward stock split theoretically makes shares more accessible. In the upside-down stock market that investors currently live, this is a good thing. The inherent value of Tesla is unchanged. But investor psychology should be affected positively in the longer term.
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True, Tesla shares are currently around $370, after dropping from $446 at the split. And maybe the markets are entering a period where investors calmly, rationally cool off the tech bubble EV valuations.
However, the more likely scenario is that shares remain high-priced and Tesla continues to release models and do new things in vehicles that fundamentally change cars. That should start to bring more and more real value to the shares, and they’ll increase in a more organic fashion.
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