George Noble, a former manager at Fidelity Overseas Fund, has maintained a pessimistic outlook on both SpaceX and Tesla, identifying them as attractive short positions due to inflated valuations and waning retail investor interest. Following SpaceX's recent IPO which did not meet anticipated results, Noble argues that passive index funds have artificially propped up the stock, citing concerns over its expedited entry into the Nasdaq 100. Noble specifically targets Tesla, noting that his skepticism dates back to January when he labeled it the market's biggest bubble. He points to a decline in Elon Musk's influence over investors following Tesla's Q2 profit miss and asserts that the historical 'Elon premium' is dissipating as earnings collapse and the stock remains unchanged for five years. According to Noble, the current valuation of these companies is outrageous, comparing SpaceX's market cap to roughly 90 times its revenues. He estimates that both stocks should be valued at approximately $30 per share, implying a potential decline of 91% for Tesla and 79% for SpaceX by year's end as the shine wears off on the high-profile electric vehicle manufacturer.