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 bit to buy that stock, because you’ll never be an adept analyst like me and put pen to paper. and give you the 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 May 5 and 9 as he prepared to hoard cash amid a controversial legal battle over its acquisition of social networking giant Twitter.In July, Musk said he was terminating the deal. took place as Musk sought to “avoid an emergency sale of Tesla stock” in the event “(hopefully unlikely) that Twitter forces this to close the deal and some equity partners fail”, The maverick CEO wrote in a social media post, but has since pared some of the losses.The stock closed at around $900 on Friday, giving the company a market capitalization of about $940 billion, but down 14% since the start of the year Its valuation is still far from the $1 trillion market monopoly cap that EV giant achi Before this year’s market hits, But Meeks still thinks the stock is too expensive. Read more Time to get into technology? Top investor Paul Meeks shares his taste – and reveals what he’s buying The asset manager likes this chip stock so much he’s putting his money into it The fund manager gives knows the bear market rally won’t last and reveals 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 said he will be “watching like a hawk” what Tesla’s rivals are doing in electric vehicles. 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 China’s. Ford and General Motors, let’s pour “billions and billions” of dollars into research. “They’ll get there,” he warned.