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Analyst: Tesla Overvalued

Video Credit: Wochit News
Published on September 10, 2020 - Duration: 00:39s

Analyst: Tesla Overvalued

On Friday, Tesla was excluded from the S&P 500 index.

In a note released on Wednesday DataTrek said it was a "brave" decision.

The note said that the exclusion of Tesla surprised DataTrek's cofounder Nicholas Colas.

Colas speculated the S&P 500's committee think Tesla is "profoundly overvalued." Business Insider reports that Tesla has a market cap of $465 billion.

Tesla "sits on shakier fundamentals," likely contributing to the committee's decision to exclude Tesla, the note said.

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