<p><strong>特斯拉</strong>(TSLA 2.27%) 继续带领投资者经历波动的旅程。尽管由于创始人兼首席执行官埃隆·马斯克的 10 亿美元股票购买，股价最近飙升，但这仍然是一家极具争议的公司。无论是看涨还是看跌的投资者，都对特斯拉作为投资的价值提出了合理的论点。</p>
<p>目前这只顶级电动车（EV）股票是买入、卖出还是持有？</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzI1MTYvdGVzbGEtY2FyLWF0LXN1cGVyLWNoYXJnZXItc3RhdGlvbi5wbmcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="420" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzI1MTYvdGVzbGEtY2FyLWF0LXN1cGVyLWNoYXJnZXItc3RhdGlvbi5wbmcmdz03MDA"/></p>
<p>图片来源：特斯拉。</p>
<h2>对估值的担忧</h2>
<p>在过去十年中，特斯拉的股价上涨了 2300%（截至 9 月 18 日）。这一惊人的增长直接源于公司成功颠覆全球汽车行业，推出创新且技术领先的电动车队。销售额随着时间的推移不断上升，该品牌现在已广为人知。</p>
<p>然而，股价已经过高。希望购买该股票的投资者必须支付高昂的价格，股价的市盈率（P/E）高达 246。这一估值足以让许多特斯拉股东选择卖出他们的持股——如此高的估值为实现未来稳定回报带来了重大阻力。</p>
<h2>特斯拉的（可能的）未来</h2>
<p>更糟糕的是，特斯拉的汽车收入在第二季度同比下降了 16%，运营收入暴跌 42%。对马斯克公众形象的日益反感以及竞争加剧导致电动车业务面临困境。</p>
<p>尽管如此，许多投资者相信，特斯拉在五年或十年后将会完全不同。他们押注于公司新推出的 Robotaxi 业务以及类人机器人等其他技术，认为这些可能最终会使特斯拉实现更高的销售和收益。然而，尽管这些业务可能支撑当前的估值，但它们的成功并非确定无疑。</p>
<p>在特斯拉作为一家上市公司的大部分时间里，股票一直高度投机，而这种情况现在仍然存在——在这些水平上，风险与回报的关系显然不合理。</p>

特斯拉

2 倍做空特斯拉 ETF - GraniteShares

2 倍做多特斯拉 ETF - Direxion

2 倍做空特斯拉 ETF - Tradr

XI二南特斯-U

南方两倍做多特斯拉

南方两倍做空特斯拉

2 倍做多 TSLA ETF - GraniteShares

<p>特斯拉的股票在投资者中仍然是一个有争议的话题，最近在埃隆·马斯克以 10 亿美元购买后出现了波动。尽管过去十年股价上涨了 2300%，但其高达 246 的市盈率以及汽车收入下降 16% 的担忧引发了对其估值的质疑。虽然一些投资者对未来的项目如 Robotaxi 持乐观态度，但股票的投机性质和当前风险表明应采取谨慎的态度。争论仍在继续：特斯拉是买入、卖出还是持有？</p>

<p><strong>Tesla</strong>(TSLA 2.27%) continues to take investors on a volatile journey. While shares have soared recently due to founder and CEO Elon Musk's $1 billion stock purchase, this remains a very polarizing business. There are valid arguments coming from both bulls and bears as to Tesla's merits as an investment.</p>
<div class="lb-trans"><p><strong>特斯拉</strong>(TSLA 2.27%) 继续带领投资者经历波动的旅程。尽管由于创始人兼首席执行官埃隆·马斯克的 10 亿美元股票购买，股价最近飙升，但这仍然是一家极具争议的公司。无论是看涨还是看跌的投资者，都对特斯拉作为投资的价值提出了合理的论点。</p>
</div><p>Is this top electric vehicle (EV) stock a buy, sell, or hold right now?</p>
<div class="lb-trans"><p>目前这只顶级电动车（EV）股票是买入、卖出还是持有？</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzI1MTYvdGVzbGEtY2FyLWF0LXN1cGVyLWNoYXJnZXItc3RhdGlvbi5wbmcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F832516%2Ftesla-car-at-super-charger-station.png&amp;op=resize&amp;w=700"/></p>
<p>Image source: Tesla.</p>
<div class="lb-trans"><p>图片来源：特斯拉。</p>
</div><h2>Concerns around valuation</h2>
<div class="lb-trans"><h2>对估值的担忧</h2>
</div><p>In the past decade, Tesla shares have climbed 2,300% (as of Sept. 18). This phenomenal gain is a direct result of the company's success disrupting the global auto industry with its innovative and tech-forward EV fleet. Sales have trended higher over time, and the brand is now widely recognized.</p>
<div class="lb-trans"><p>在过去十年中，特斯拉的股价上涨了 2300%（截至 9 月 18 日）。这一惊人的增长直接源于公司成功颠覆全球汽车行业，推出创新且技术领先的电动车队。销售额随着时间的推移不断上升，该品牌现在已广为人知。</p>
</div><p>However, the stock has overreached. Investors who wish to buy the stock must pay a hefty price tag with shares boasting a price-to-earnings (P/E) ratio in nosebleed territory at 246. This valuation is a convincing enough reason alone for many Tesla shareholders to sell out of their position -- such a high valuation introduces a major headwind to achieving solid future returns.</p>
<div class="lb-trans"><p>然而，股价已经过高。希望购买该股票的投资者必须支付高昂的价格，股价的市盈率（P/E）高达 246。这一估值足以让许多特斯拉股东选择卖出他们的持股——如此高的估值为实现未来稳定回报带来了重大阻力。</p>
</div><h2>Tesla's (possible) future</h2>
<div class="lb-trans"><h2>特斯拉的（可能的）未来</h2>
</div><p>To make matters worse, Tesla's automotive revenue declined 16% year over year in the second quarter, and its operating income tanked 42%. A growing backlash against Musk's public profile and increased competition have led to struggles for the EV segment.</p>
<div class="lb-trans"><p>更糟糕的是，特斯拉的汽车收入在第二季度同比下降了 16%，运营收入暴跌 42%。对马斯克公众形象的日益反感以及竞争加剧导致电动车业务面临困境。</p>
</div><p>That said, many investors believe that Tesla will look totally different five or 10 years down the road. They're betting that the company's newly launched Robotaxi business and other technologies like humanoid robots could eventually lead Tesla to higher sales and earnings. The success of those ventures is anything but certain, however, despite how much they may be propping up the current valuation.</p>
<div class="lb-trans"><p>尽管如此，许多投资者相信，特斯拉在五年或十年后将会完全不同。他们押注于公司新推出的 Robotaxi 业务以及类人机器人等其他技术，认为这些可能最终会使特斯拉实现更高的销售和收益。然而，尽管这些业务可能支撑当前的估值，但它们的成功并非确定无疑。</p>
</div><p>For much of Tesla's existence as a publicly-traded company, the stock has been highly speculative, and that remains the case now -- the risk-reward profile simply doesn't make sense at these levels.</p>
<div class="lb-trans"><p>在特斯拉作为一家上市公司的大部分时间里，股票一直高度投机，而这种情况现在仍然存在——在这些水平上，风险与回报的关系显然不合理。</p>
</div>

Is Tesla Stock a Buy, Sell or Hold?

- 特斯拉股价因马斯克的 10 亿美元股票购买而波动。  
- 过去十年股价上涨 2300%，但市盈率高达 246。  
- 汽车收入下降 16%，未来前景不明，风险与回报不成比例。  

特斯拉的股票是应该买入、卖出还是持有？