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Tesla is a ‘tech on wheels’ company, and that gives it room to run, trader says

September 9, 2020


Tesla may be down 30% in the past week, but don’t count the stock out, says Ascent Wealth Partners managing director Todd Gordon.

The value of the stock, a frequent focus in the bull-bear debate, depends on how an investor views the company, Gordon said Tuesday on CNBC’s “Trading Nation.”

“The main difference between how bulls and bears view Tesla is whether they value it as a traditional auto company or a technology company. If you’re trying to assign valuation on Tesla based on the conventional automobile industry, of course the stock is going to look expensive,” Gordon said. “We don’t see Tesla as an auto company but more as a ‘technology on wheels’ kind of company.”

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