Stock Market News

GLJ Research Outlines 5 Reasons for Bearish Tesla Stance

2022.06.09 21:32

GLJ Research Outlines 5 Reasons for Bearish Tesla Stance
GLJ Research Outlines 5 Reasons For Bearish Tesla (TSLA) Stance

By Sam Boughedda

GLJ Research’s CEO and co-founder Gordon Johnson outlined his bear thesis for Tesla (NASDAQ:TSLA) in a note to investors Thursday.

The long-time Tesla bear pointed to five points as to why they think Tesla has “major problems” this year. These include problems in China, its “FSD lie problem,” autonomous vehicle competition, an image problem, and Twitter (NYSE:TWTR) problems.

Johnson firstly pointed to the company’s “China/profit problem,” stating that Tesla sales are “slipping in the only market where it turns a profit.”

“The Chinese EV market has completely blindsided TSLA bulls (and TSLA) who for years have been laughing at ‘The Next Tesla Killer’ headlines/claims, thinking competition would be years away; TSLA bulls are running out of excuses (e.g., Tesla’s China business),” wrote Gordon, who pointed to BYD (OTC:BYDDY) as outselling them.

Regarding full self-driving, the analyst argued that “it’s obvious ‘FSD’, or more importantly the BIG THING E. Musk has promised – regarding the fleet of millions of TSLA cars being able to just ‘wake up’ with a software update that now makes everyone’s TSLA’s a robotaxi – is not happening.”

Meanwhile, Johnson said autonomous vehicle competition has also arrived, with “half a dozen companies, mostly in China but Cruise in SF, that can charge for driverless rides.”

Concerning Tesla’s supposed image problem, the analyst said it is “crumbling,” while regarding Twitter, he said every M&A/other lawyer he has spoken to believes, Musk will not be able to back out of the acquisition, meaning he will likely “have to sell $15B-$20BN more of TSLA stock to fund the acquisition.”

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 98,311.34 0.05%
ethereum
Ethereum (ETH) $ 3,389.24 0.82%
tether
Tether (USDT) $ 1.00 0.06%
solana
Solana (SOL) $ 253.83 0.58%
bnb
BNB (BNB) $ 662.00 0.24%
xrp
XRP (XRP) $ 1.46 0.30%
dogecoin
Dogecoin (DOGE) $ 0.425817 2.00%
usd-coin
USDC (USDC) $ 1.00 0.08%
cardano
Cardano (ADA) $ 1.05 1.29%
staked-ether
Lido Staked Ether (STETH) $ 3,390.57 0.75%
tron
TRON (TRX) $ 0.209522 2.61%
avalanche-2
Avalanche (AVAX) $ 42.12 1.50%
stellar
Stellar (XLM) $ 0.527503 6.94%
the-open-network
Toncoin (TON) $ 6.12 6.88%
shiba-inu
Shiba Inu (SHIB) $ 0.000026 4.27%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,005.57 1.06%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,883.23 0.19%
polkadot
Polkadot (DOT) $ 9.13 1.29%
chainlink
Chainlink (LINK) $ 18.19 2.63%
bitcoin-cash
Bitcoin Cash (BCH) $ 513.45 0.33%
weth
WETH (WETH) $ 3,383.75 0.91%
sui
Sui (SUI) $ 3.44 0.66%
near
NEAR Protocol (NEAR) $ 7.01 3.88%
pepe
Pepe (PEPE) $ 0.00002 2.67%
leo-token
LEO Token (LEO) $ 8.66 0.22%
litecoin
Litecoin (LTC) $ 96.91 3.81%
aptos
Aptos (APT) $ 12.39 4.28%
uniswap
Uniswap (UNI) $ 11.00 0.55%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,566.14 0.86%
hedera-hashgraph
Hedera (HBAR) $ 0.143703 3.89%
internet-computer
Internet Computer (ICP) $ 11.50 1.29%
usds
USDS (USDS) $ 1.00 0.13%
crypto-com-chain
Cronos (CRO) $ 0.187704 5.50%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.565332 2.24%
ethereum-classic
Ethereum Classic (ETC) $ 29.06 2.89%
render-token
Render (RENDER) $ 8.01 0.13%
bittensor
Bittensor (TAO) $ 535.95 0.68%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.51 1.34%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.07%
kaspa
Kaspa (KAS) $ 0.153285 0.11%
whitebit
WhiteBIT Coin (WBT) $ 24.45 1.19%
bonk
Bonk (BONK) $ 0.000047 1.50%
arbitrum
Arbitrum (ARB) $ 0.8569 2.99%
vechain
VeChain (VET) $ 0.043294 1.21%
dai
Dai (DAI) $ 1.00 0.04%
filecoin
Filecoin (FIL) $ 5.62 4.58%
blockstack
Stacks (STX) $ 2.26 6.83%
cosmos
Cosmos Hub (ATOM) $ 8.67 5.61%
okb
OKB (OKB) $ 56.18 4.03%
mantra-dao
MANTRA (OM) $ 3.69 0.47%