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“I have always held that Tesla share price is sort of the result of incredible retail enthusiasm about Elon Musk,” Tusk remarked. He adds that the valuation has the potential to decline significantly, highlighting the company's strong dependence on perceived market sentiment and federal government contracts.
Despite a modest increase in Tesla's stock, Tusk urged caution, noting that the perception of Musk as a “superhuman” might be the very basis that is vulnerable to market corrections.