Would a wealth tax bring sanity to the stock market?

I came up with this question while pondering whether or not I should sell my 1500 shares of TSLA.

I’m using TSLA as an example, but this applies to a few stocks and more than a few billionaires.

Currently, Tesla trades at around $440-450.

A 1% wealth tax implies a tax of about $4.50 a share for those who meet a certain threshold. The thing is, TSLA generates $1.50 a share. Divorcing taxation from profits seems to imply that a wealth tax would place an effective ceiling on the price of equity.

Does this imply that the imposition of a wealth tax would cause a stock market crash just based on imposing fundamentals?