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With the recent big Tesla stock rally to 43% its showing clear signs of a bubble
“When a stock rises this much, I mean 43% in five or six days, that only happens after a stock crashed. That hasn’t happened [with Tesla]. The stock more than doubled when the big rally came along. Maybe a company can go up 43% if they come up with a COVID-19 vaccine. But stocks like this after they have rallied a lot that’s a bubble. And to me, that tells me people should take at least some profits off the table and be careful about buying the stock at these prices,” said Miller Tabak chief markets strategist Matt Maley on Yahoo Finance’s The First Trade.
“When a stock rises this much, I mean 43% in five or six days, that only happens after a stock crashed. That hasn’t happened [with Tesla]. The stock more than doubled when the big rally came along. Maybe a company can go up 43% if they come up with a COVID-19 vaccine. But stocks like this after they have rallied a lot that’s a bubble. And to me, that tells me people should take at least some profits off the table and be careful about buying the stock at these prices,” said Miller Tabak chief markets strategist Matt Maley on Yahoo Finance’s The First Trade.
