I have long been bearish about electric car maker Tesla (Nasdaq: TSLA). In fact, I once called it "the most overvalued stock I've ever seen." With all of the excitement that surrounded Tesla and electric vehicles (EVs), traditional automakers fell out of favor. The conventional viewpoint was that Tesla had such a big first-mover advantage in EVs that no other company would ever compete. It took a while, but the market has finally come around to my line of thinking. Tesla's stock is down nearly 75% from its all-time high. Despite the big decline, I'm still not interested in Tesla shares. There is, however, an automaker whose stock I am much more bullish about. With their strong cash flows and existing manufacturing infrastructure, traditional automakers have proven capable of giving Tesla all the competition it can handle and then some. And the stock market isn't properly recognizing that, which makes the spotlight of today's Value Meter an undervalued opportunity... |
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