Benzinga | Nov 15, 2021 10:57AM EST

This EV Stock Is Trading At 'Significant Premium,' Delano Saporu Says

On CNBC's "Trading Nation," Delano Saporu of New Street Advisors Group said although shares of companies, including Tesla, Inc. (NASDAQ:TSLA), NVIDIA Corporation (NASDAQ:NVDA) and Microsoft Corporation (NASDAQ:MSFT) will continue moving higher in the long term, but investors should look for better prices to buy these shares.

He noted that shares of Tesla have jumped around 30% in the previous month, but there was a slight pullback in the stock recently. However, Tesla stock is still trading at a "significant premium" to other automakers.

Saporu concluded that investors should look for corrections and buy the stock at better prices.

Price Action Tesla shares dropped 2.8% to close at $1,033.42, while Nvidia shares settled at $303.90 on Friday.

hares of Microsoft rose 1.3% to close at $336.72.