Top tech investor Paul Meeks isn’t buying into the Tesla hype, saying the stock can be bought – but only at the right price. “You almost have to believe in the cult, and it’s the cult, it only takes a little to buy that stock, because you’ll never be an adept analyst like me and put pen to paper. and give you a math that tells you stocks are cheap,” Meeks, portfolio manager at Independent Solutions Wealth Management, told CNBC Pro Talks last week. “You can never, as a fundamental analyst, come up with a meaningful valuation,” for Tesla, he added. However, Meeks doesn’t advise avoiding the stock entirely — he’s not buying it at its current valuation. “I think Tesla could be acquired. It’s had a bit of a boost lately after the whole set of failures with [CEO] Elon Musk and the Twitter acquisition,” he said. Musk, the co-founder and CEO of Tesla, sold 7.92 million shares of the company worth about $6.88 billion between August 5 and 9. as he prepares to hoard cash amid a controversial legal battle over its takeover of social media giant Twitter.In July, Musk said he was terminating the deal.The share sale came as Musk seeks to “avoid an emergency sale of Tesla stock” in the event “(hopefully unlikely) that Twitter forces this The deal to close and some equity partners fail,” the maverick CEO wrote in a social media post but has since pared some of its losses.The stock closed at around $900 on Friday, giving the company a market capitalization of about $940 billion, but Its valuation is still far from the monopoly $1 trillion market cap that EV giant achi Ahead of this year’s market, but Meeks still thinks it’s down 14% year-to-date. Stocks are too expensive. Read more Time to get into technology? Top investor Paul Meeks shares his preference – and reveals what he’s buying Asset manager likes this chip stock so much he’s putting his money into it Fund manager says that the bear market rally won’t last, and revealed how to position it “I think Tesla becomes more interesting to me at around $600 or $700… [it] seems to make a little more sense [fundamentally]Meeks added that from a technical analysis perspective, the charts also indicate that a breakout – when a stock moves above a certain point in a sustained trend – could be in the cards. Even so, Meek says he’ll be “watching like a hawk” what Tesla’s rivals are doing in the electric vehicle space. He acknowledged that Elon Musk has led the creation of the electric vehicle industry, but said competition is now heating up as new tech car companies, as well as traditional automakers like the one of Ford and General Motors, let’s pour “billions and billions” of dollars into research. “They’ll get there,” he warned.