Teslas share price plummeted by 17percent. Musks net assets fell by $5.9 billion

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 Teslas share price plummeted by 17percent. Musks net assets fell by $5.9 billion


Teslas share price soared to a record closing price of $887.06 a day earlier, raising Musks ranking in the Bloomberg billionaires index to No. 20, ahead of the owners of candy maker Mars Inc. John badger Mars and Jacqueline badger Mars.

Musk, 48, now has about $39.3 billion in net worth, dropping to No. 25 on the Bloomberg billionaire index. However, compared with the beginning of this year, his ranking has been greatly improved. At that time, he was ranked 35th.

Even before the crash, some investors and analysts had said Teslas market value was out of fundamentals.

In a report, Needham analyst rajvindra gill, who suggested selling Tesla shares, warned that Teslas shares are at an extreme P / E level compared to many leading technology companies.

Even after Wednesdays plunge, Teslas share price is about 55 times its expected net profit in 2021, according to data. By comparison, Amazon is 49 times, apple is 22 times, and alphabet is 23 times. Weve never seen a stock rise so fast before, regardless of past fundamentals or past records, gill wrote Teslas share price has soared since October 2019, when it reported unexpected third quarter earnings. In June last year, its share price was below $200. In January, Tesla reported stronger than expected fourth quarter results and accelerated the release of cross-border suvmodely, which all contributed to the sharp rise of the companys share price. Analysts expect Tesla to target a median share price of $390. (small) source: Qiao JunJing, editor in charge of Netease Technology Report

Even after Wednesdays plunge, Teslas share price is about 55 times its expected net profit in 2021, according to data. By comparison, Amazon is 49 times, apple is 22 times, and alphabet is 23 times. Weve never seen a stock rise so fast before, regardless of past fundamentals or past records, gill wrote

Teslas share price has soared since October 2019, when it reported unexpected third quarter earnings. In June last year, its share price was below $200. In January, Tesla reported stronger than expected fourth quarter results and accelerated the release of cross-border suvmodely, which all contributed to the sharp rise of the companys share price.

Analysts expect Tesla to target a median share price of $390. (small)