Why Jim Chanos Thinks Tesla Stock Is 'Ridiculously Overvalued:' 'They Basically Were.. Doing The Wrong Thing For 7 Years'
Portfolio Pulse from Shanthi Rexaline
Jim Chanos, founder and President of Chanos & Co., maintains his short position on Tesla, Inc. (NASDAQ:TSLA), calling the stock 'ridiculously overvalued'. He criticized Tesla's strategy, stating that the company admitted to pursuing the wrong avenue for seven years with its full self-driving (FSD) effort. Chanos also warned that Tesla's profits would be under pressure permanently due to price cuts.
September 15, 2023 | 8:50 am
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Jim Chanos maintains his short position on Tesla, criticizing the company's strategy and warning of permanent profit pressure due to price cuts.
Chanos's comments could potentially influence investor sentiment and put downward pressure on Tesla's stock price. His criticism of Tesla's strategy and warning about permanent profit pressure due to price cuts could be seen as significant concerns by investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100