Tesla Inc. shares are trading at their cheapest ever by at least one measure as the electric-vehicle giant grapples with an array of challenges, from waning demand in China to investor concern over billionaire Chief Executive Elon Musk’s priorities.
The stock is now trading at 29 times projected earnings, according to data compiled by Bloomberg. While that’s still well above the S&P 500 Index’s 17 times forecast earnings, it’s the lowest since the company went public in…
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