Tesla has run 40% in a month, and chart points to another double-digit rally ahead $TSLA (via TradingNation)
The stock has raced more than 40% higher since October, turning shares positive for the year.
John Petrides, portfolio manager at Tocqueville Asset Management, says one key factor is preventing him from getting on board Tesla stock. "I think for valuation Tesla still remains way too expensive for my blood," Petrides said during the same segment. "We've seen this story before. They did this last year where they had two quarters of back-to-back cash flow growth and then they blew up the next quarter and the stock suffered and sold off dramatically."
Tesla has not had negative cash flow since its first quarter ended in March. From late April when the report was released to early June, the stock tumbled more than 50%. The stock has rebounded 97% since that low. "With the stock trading at current valuation with the price where it is today, I think Tesla will be better off doing an equity offering and dilute shareholders here as a cheap form of capital, short the balance sheet and start preparing for future growth with excess cash, but that's just my opinion and I would stay away from the shares at current value," Petrides said.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Head-on collision of Bangladesh trains kills 16, injures 40Rescuers in Bangladesh were struggling to pull passengers from wreckage after a head-on collision of two trains killed at least 16 people and injured more than 40
Weiterlesen »
Tim McGraw Lost 40 Lbs After His Daughter Told Him He Looked 'Big'“There’s a feeling of accomplishment that comes from being my age and still being at the top of my game.”
Weiterlesen »
The 40 Best Novels of the 2010sThe best novels of the decade include books by Colson Whitehead, Madeline Miller, N.K. Jemisin, Brandon Sanderson and more.
Weiterlesen »
40 Amazing Advent Calendars That Anyone Will Want To Receive40 Amazing Advent Calendars To Make December More Exciting
Weiterlesen »
Malta Looks to Change the Game With 40% Tax Rebate and New StagesThe Mediterranean island nation of Malta has long been attracting international film and TV productions mainly for tales with either a strong marine or biblical element, and often for limited porti…
Weiterlesen »
Tesla owners are frustrated with the wait times for services - Business InsiderICYMI: In a new survey, 21% of Tesla owners expressed dissatisfaction with the timeliness of Tesla's service last quarter — a 13% jump from last year:
Weiterlesen »