The South Korean mutual fund pioneer has logged a return of over 150% on around 740 billion won ($512 million) investment in Elon Musk’s SpaceX and X, formerly Twitter, since 2022.“Korean investors were overexposed to Tesla and some thematic stocks,” Park said in an interview with The Korea Economic Daily on Monday.“It is time to take a more balanced approach to portfolios.” Tesla remains the most-bought foreign stock among South Korean retail investors.
Their net purchase of the stock reached 1 trillion won in December last year and 1.3 trillion won in January.“Tesla is an innovative company with strong long-term potential,” Park said.“However, it will take considerable time for its earnings to justify its current valuation.”"For Tesla to sustain a price-to-earnings ratio (P/E) exceeding 100, it must either dominate the global electric vehicle market, deliver consistent profit growth, or establish itself as the sole leader in robotics technology," the chairman added.
EXCESSIVE HYPE SURROUNDING QUANTUM COMPUTINGBeyond Tesla, Park cautioned against the speculative frenzy surrounding quantum computing stocks, likening it to the overheated battery stock boom in 2023.Google Inc.’s release of its Willow quantum computer in December ignited quantum computing hype, driving shares of IonQ, Rigetti Computing and Arqit Quantum and D-Wave Quantum Systems sharply higher.
The story "Mirae Asset's Park warns of overheated Tesla, quantum computing stocks" has 542 words across 25 sentences, which will take approximately 3 - 5 minutes for the average person to read.
Which news outlet covered this story?
The story "Mirae Asset's Park warns of overheated Tesla, quantum computing stocks" was covered 2 days ago by Korea Economic Daily, a news publisher based in South Korea.
How trustworthy is 'Korea Economic Daily' news outlet?
Korea Economic Daily is a fully independent (privately-owned) news outlet established in 1964 that covers mostly economy news.
The outlet is headquartered in South Korea and publishes an average of 8 news stories per day.
It's most recent story was published 19 minutes ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
