George Noble Sees 91% Tesla Drop and 79% SpaceX Slide, Calling Both Top Shorts
Updated
Updated · Business Insider · Aug 16
George Noble Sees 91% Tesla Drop and 79% SpaceX Slide, Calling Both Top Shorts
2 articles · Updated · Business Insider · Aug 16
Summary
George Noble said Tesla and SpaceX should trade near $30 a share, implying 91% downside for Tesla and 79% for SpaceX.
He argues both stocks are extreme short candidates because valuations remain stretched, with SpaceX near a $2 trillion market value and about 90 times revenue after its June IPO.
Noble also says the retail-trader buzz around Elon Musk is fading, a shift he ties to Tesla's significant Q2 profit miss and what he calls collapsing earnings.
SpaceX has already stumbled since its debut, but Noble expects deeper losses by year-end as a tougher macro backdrop hits hype-driven stocks.