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- Tesla stock may be enjoying a remarkable rally in 2023, but there are those who think the EV maker is grossly overvalued.
- One analyst says the carmaker's true value lies closer to $26 per share than $290 – suggesting it's more than 1,000% overvalued.
- "The company's fundamentals are disconnected from reality," New Constructs CEO David Trainer wrote in a note Thursday.
Tesla continues to ride the AI-fueled tech stock boom,, with its shares up a 113% this year and its market cap briefly topping $900 billion this week. Even a so-so second-quarter earnings report hasn't dampened investors' spirits much.
But not everybody is sold on the dream.