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One thing Tesla (NASDAQ:TSLA) and Afterpay (ASX:APT) have that people forget



Tesla Inc (NASDAQ: TSLA) is often cited as the poster child for the irrational exuberance of retail investors.

Notwithstanding the COVID-19 market crash, the stock for the electric car maker has increased 660% times since the start of 2020.

That dizzying ascent has made many people rich. This includes chief executive Elon Musk, who in January briefly overtook Inc (NASDAQ: AMZN) founder Jeff Bezos as the planet’s wealthiest person.

Tesla is now worth more than the 8 biggest traditional car makers combined, even though it produces a fraction of the vehicles they do.

Critics say this is the worst example of an overvalued growth stock. Foolhardy retail investors are pumping money into speculative businesses that are just…

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