You mean NVIDIA at 55 and TESLA at a PE of 177 might be a little over priced? Tell me it isn’t so. /s
These are so overvalued and stay that way because they are held by so many who would now rather not but are in too deep.
Ferrari has a PE of about 51 and is more profitable than Tesla.
Tesla is simply a car maker and ranks globally in the bottom of the pack by number of units but second to Ferrari in profitability per unit. Watch what happens there without the subsidy.
If I did not already own S&P 500 ETF I would opt for the S&P 493.
“Tesla is simply a car maker”
You should do your homework before disseminating false information.
Wrong, and full of FUD. Tesla is much more than a car maker. Heavily invested in AI, robotics, energy creation, etc. Just their energy division may surpass their car profits (they're becoming a power-utility company). Then there is their contributions to research with Musk's other companies, like SpaceX with Starlink and metals research, and AI with NeuraLink. I suggest you do some research into Tesla and their operations. Musk suggested that they won't be focused on selling cars in the future, it will be a side operation for producing RoboTaxis and commercial vehicles.
TSLA is the only way the common joe can invest into other Musk projects. Starlink, boring company, etc etc aren't into the public sphere, TSLA is the default off the added exposures.