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Barchart
Larry Ramer

Tesla Stock Continues to Be Dramatically Overvalued Amid Company Struggles

Tesla Inc. Elon Musk United States

With Tesla's (TSLA) core auto business continuing to post underwhelming results and its nascent robotaxi initiative having trouble getting off the ground, TSLA stock, with its forward price-to-earnings ratio of 335.83 times, appears to be dramatically overvalued. Consequently, investors should avoid buying Tesla's shares.

Meanwhile, Congress is considering imposing an annual fee of $130 on electric vehicles. While this fee, if implemented, is unlikely to deter the vast majority of consumers interested in Tesla's EVs from buying them, it could slightly reduce the demand for the firm's automobiles, adding another negative catalyst for TSLA stock.

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