Relying on the dodge that I’m never wrong about the stock market, but my timing is sometimes off, I am willing to state that Tesla stock is today ridiculously overvalued. The bear-market argument for Tesla shares is still out there, but there’s no question that short sellers have taken it in, well, the shorts. Tesla’s market capitalization (stock price times shares outstanding) is more than $115 billion at its current price, nearly 40% higher than those of General Motors and Ford put together. As it happens, the stock market boneyard, or at least its ICU, is littered with such stocks. A favored stock market adage is often attributed to John Maynard Keynes as a warning not to bet against the mob.

Source: Los Angeles Times January 31, 2020 12:56 UTC