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Ralph Nader Says Tesla Is The Reason The 'Stock Market Bubble Implodes'

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Ralph Nader Says Tesla Is The Reason The 'Stock Market Bubble Implodes'

Consumer advocate and former presidential candidate Ralph Nader joined the list of people who raised the ire of Tesla Inc. (NASDAQ: TSLA) fans by questioning whether the company's recent huge run up in market value is warranted.

Tesla's share price has more than doubled in the last three months and its market cap has topped $100 billion, more than that of General Motors Company (NYSE: GM) and Ford Motor Company (NYSE: F) combined.

Nader followed up with more thoughts on Tesla:

Twitter, which has a huge pro-Tesla contingent that rips anyone who questions any part of the company's success story, quickly lit into Nader. Among the criticisms was that he's a member of an older generation that doesn't understand Tesla is a tech company that happens to make an electric vehicle, not a car company. Others noted Nader should like Tesla's safety record and positive impact on the environment, two major causes championed by Nader.

'Adversary Of Corporate Capitalism'

Nader, 85, has always been seen as somewhat anti-Wall Street in his role as one of the nation's best-known consumer advocates. He's called himself an “adversary of corporate capitalism."

But in recent years, he's taken up at least a little interest in shareholder rights, and is an investor himself.

A look at Nader's active Twitter feed shows he doesn't often take on individual companies these days, with a few exceptions. He's been extremely and frequently critical of Boeing Co (NYSE: BA) as it has reeled in the wake of investigations of its practices following two plane crashes. A few days ago, Nader retweeted a post implying that Boeing stock had been too high and was "finally catching up with reality."

Nader also criticized some big publicly traded companies a couple of years ago for inflating their stock prices through share buybacks rather than putting the money to other uses.

Related Links:

Elon Musk's Big Day: Trump Compares CEO To Thomas Edison As Tesla's Stock Sets Milestone

Cramer: Tesla Is A Tech Company On Wheels, Unlike Ford And GM

Photo credit: Sage Ross, Flickr

 

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