I remember having a conversation a few months back regarding Tesla when it’s stock was trading around 250x earnings. I had planned to short a nice chunk as I didn’t think it would be able to sustain its share price.
Well I was right, but damned if I did anything about it. Chit. It’s now trading at less than 1/2 the price at the time of that conversation. Looks like it’s still in a nose dive, but at 38x earnings it’s no longer completely out of whack as the rest of the industry.