Electric & Autonomous Vehicles News - 02/18/2020 - Views: 362

Leon Cooperman says the market has become too pessimistic on energy stocks, too euphoric on Tesla

Billionaire investor Leon Cooperman told CNBC on Tuesday that investors have become too pessimistic on the energy sector and too optimistic on individual companies like Tesla.

“I would say we’re in the early stages of knocking on the door of euphoria, but we’re not quite [fully in] euphoria,” the founder of Omega Advisors said. “Certain parts of the market are in euphoria like Tesla. Other parts of the market, like energy, are in pessimism.”

“And so I’m trying to find things that make sense,” he said told CNBC’s Scott Wapner on the “Halftime Report.” Cooperman explained that some 15% of his money is currently in energy based on his belief that the sector is underappreciated versus darlings like Tesla.