Tesla (TSLA) in Fidelity OTC Portfolio Q2 2024

Valuation Concerns Amidst Strong Performance

Apr 15, 2025

Summary

Stock rose about 32% despite volatility and weaker earnings.
Rich valuation and competition from Chinese rivals noted.
Largest underweight in the portfolio as of September 30.

In the Fidelity OTC Portfolio fund letter for Q2 2024, Tesla (TSLA, Financial) was discussed as a significant underweight in the portfolio. Despite the stock's 32% rise over the past three months, concerns about its rich valuation and growing competition from Chinese rivals were highlighted. The fund manager expressed caution, preferring to wait for a more favorable entry point.

"Negligible exposure to the shares of electric-vehicle maker Tesla hurt most versus the benchmark. The stock was up about 32% the past three months, despite some volatility." — Christopher Lin, Fidelity OTC Portfolio, Q2 2024 Fund Letter

Read full letter at gurufocus fidelity otc portfolio fund q2 2024 review 2024 Q2 page.

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