Did I make a mistake in investing now, when the stock is so overpriced compared to the risk?
Welcome to the forum. I'm one of the least credible responders on stock price and probably view things in overly simple terms. But here's a stab anyway.
If you take traditional measures of price/risk you might have made a mistake. I think most of us here think we bought based on the potential price because of the need for environmental protection, the market looking forward to addressing that need, the quality of the product (performance, economy, as well as style), and Elon Musk's vision and track record. Right after the reveal of the M3 on the first trading day I bought a few shares at $250. The stock price went up and then has struggled. I am happy nonetheless because no less than Ron Baron, the investor who expects the price to go up 10-30 times within the next 10-15 years (I could be misquoting the numbers here, but the drift is correct). Baron, as you may have gathered from previous discussion is one of those investors who really has an eye for detail and great perspective on what Tesla is doing—and probably more access than most as he has 100s of millions invested in the company.
By inspection many of us here think the stock is cheap, despite a lot of pressure from traders who may, or may not, have successfully depressed the perceived value of the stock. From my perspective you did not make a mistake buying now.
But hold tight and don't fall into the trap of short-term trading. That is dangerous as some very successful traders here will advise you more authoritatively. Usually the rule is don't invest more than you're willing to lose. I am long since 2010 with an average price of purchase just under $40, including the last one, but no dry powder since we're hoping to buy a Tesla next year.
We're not supposed to engage in political talk here. Always good advice. I shall try to message you privately about the recent election. (Look for a button—boxed arrow pointing down--at the top of the page which will turn red. Or, use that to get my attention.)
Edit: The usual wise heads above have already given you more detailed and more important clues.
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