The investor and short seller Fraser Perring tweeted on Wednesday morning that he was back on price losses Tesla stock bet. The founder of the investment company Viceroy Research also raised the question of whether the major automakers Toyota and Volkswagen are undervalued on the stock market or whether Tesla is simply overvalued.
Tesla shares on the decline soon?
At the beginning of 2022, Tesla shares again exceeded the USD 1,200 mark and reached the highest level since November at USD 1,243. But since Tuesday, the US carmaker’s share has been in the fall again. In the relatively short term, the asset fell a good four percent to $ 1,149.59. After price increases of 743 percent in 2020 and almost 50 percent in 2021, Tesla brings in around 1.15 trillion dollars on the stock market. This trend is strengthened by the first profits of the new year.
Tesla exceeds the total market capitalization of Toyota ($ 322 billion), Volkswagen ($ 139 billion), Daimler ($ 87.5 billion) and BMW ($ 69 billion). Various analysts, including Fraser Perring, consider the company to be severely overvalued. He is therefore betting on the loss in value of Tesla shares.
Perring himself has come into the public eye over the past few months, especially as part of the Wirecard scandal. He was part of a team that wrote a report on the financial services provider back in 2016. Management and members of the Board of Management of Wirecards were accused of money laundering and other offenses. It remains to be seen whether his nose will also be correct at Tesla.
“Totally senseless rated”
This “price shift” between Tesla shares and the established automaker Toyota Motor Corp. and Volkswagen AG tweeted Perring on Wednesday. In an interview with Bloomberg, however, he first clarifies the spheres in which we are operating.
“I never short just because of an overvaluation, but also when a company is valued completely nonsensically. If you are conservative, in my opinion this company is overrated by at least a factor of 10. “
Fraser Perring (via Bloomberg)
According to some information, however, Perring only uses five percent of his portfolio to bet against Tesla shares. He also made it clear to Bloomberg that his forecast should be treated with caution.