Tesla’s (NASDAQ:TSLA) futuristic (a polite way of saying odd) Cybertruck will finally have its big delivery event on Thursday. And even though Tesla CEO Elon Musk said on the company’s third quarter earnings call in mid-October that there are already more than 1 million people who have orders for the quirky looking angular vehicle, the Cybertruck may not move the needle for Tesla investors anytime soon.
Shares of Tesla have nearly doubled this year (despite a 20% pullback from its 52-week high) and the stock now trades at more than 60 times 2024 earnings estimates. So, the electric car giant is clearly a risky investment.
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