Tesla Bear Says Elon Musk's EV Company 'Could Go Bust' As Stock Could Plummet 91% Amid Disappointing Q1 Results
Portfolio Pulse from Benzinga Neuro
Per Lekander, a hedge fund manager shorting Tesla since 2020, predicts Tesla could go bust with its stock potentially dropping to $14, citing disappointing Q1 vehicle deliveries and a 'demand problem'. Despite this, Cathie Wood of Ark Invest and Tom Narayan of RBC Capital Markets see potential in Tesla, with Wood expecting the stock to reach $2,000. Tesla's stock closed at $168.38, with a 1.05% increase, and rose to $169.99 in after-hours trading.
April 04, 2024 | 2:59 am
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NEGATIVE IMPACT
Per Lekander predicts Tesla's stock could plummet to $14 due to disappointing Q1 results and a demand problem, contrasting with optimistic views from Cathie Wood and Tom Narayan.
Lekander's dire prediction based on disappointing Q1 vehicle deliveries and a perceived demand problem could negatively impact investor sentiment in the short term, despite some analysts remaining optimistic about Tesla's future prospects.
CONFIDENCE 75
IMPORTANCE 90
RELEVANCE 100