All eyes were on Tesla last week as it held its investor day where it unveiled its "master plan" — including how it plans to scale up amid increasing competition. The electric vehicle giant also addressed how it could grow its market share in China, where it's up against a slew of Chinese EV makers. But shares plummeted 7% after the event, on criticism that the compay was thin on specifics. Tesla's stock closed at $193.81 on Monday — 49.
The company's valuation being too high is a common complaint among Tesla bears. David Trainer, CEO of investment research firm New Constructs, said that it's "nosebleed high because the cash flow expectations baked into the stock price are unreasonably optimistic.
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TSLA is original Meme stock.