AFT calls for review of Tesla stock valuation

The 1.8m-member American Federation of Teachers has publicly called on major asset managers including Blackrock, Fidelity Investments and State Street to carry out a review of Tesla’s valuation, with the union’s head, Randi Weingarten, saying Tesla’s “latest financial disclosures should raise alarms”. Ms. Weingarten says that her focus is on “safeguarding workers’ retirements”, and warns that teachers’ pensions could take a material hit if Tesla’s stock, which has fallen 28% over the last month to $290, continues its slump, with some analysts forecasting a target of $135. “Just this week we saw Tesla stock continue to sink faster than a Cybertruck in quicksand as European sales fell off a cliff”, she said: “So, we knew we needed to act fast.”