‘The punch bowl has been aggressively spiked’: $1 billion asset manager sounds the alarm after Tesla’s 300% stock rally

REUTERS/Mike Blake

Tesla’s stock soaring 300 shows markets are awakened, VGI Partners states.
“When a market cap of that size can go hyperbolic in a short period of time for no real reason, it is certainly symptomatic of an environment that is not normal.”
However, the asset manager hasn’t shorted Tesla stock due to its huge potential client base and its”billionaire genius” CEO, Elon Musk.
VGI hasn’t bought shares either because the carmaker faces competition and an unclear future.
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Tesla‘s stock has skyrocketed more than 300% in six months, boosting the electric carmaker’s market capitalization to about $160 billion.

The astronomical rally is a sign that markets have been awakened, according to VGI Partners Global Investments, an Australia-based advantage manager with nearly $1 billion spent across shares like Amazon, Spotify, and Mastercard. See the rest of the narrative at Business Insider

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