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Shark Tank Star Kevin O'Leary on Why Tesla Shares Are Set to Crash

Tesla TSLA shares are set to crash, according to Shark Tank star Kevin O'Leary, who is also Chairman of O'Leary ETF Investments.
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The party is over.

Tesla (TSLA) - Get Tesla Inc Report shares are set to crash, according to Shark Tank star Kevin O'Leary, who is also Chairman of O'Leary ETF Investments. 

"I'd argue there's a 30-40% downside in Tesla's stock," O'Leary said in an interview with TheStreet.

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Tesla shares are up 41% since the start of the year, crushing the broad S&P 500's 4% gain. 

"There are going to be self-driving cars manufactured by many companies," O'Leary said, "Tesla is the first and perhaps the best brand known, but if I were putting money to work today into this space, it probably wouldn't be in Tesla because it doesn't fit any of the criteria that I look at in terms of derisking my portfolio."

On Friday, Apple (AAPL) - Get Apple Inc. Report disclosed that it had received a permit to test self-driving technology on public roads. Apple is the largest holding of O'Leary's U.S. focused ETF, the O'Shares FTSE US Quality Dividend ETF (OUSA) - Get OShares U.S. Quality Dividend ETF Report .

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