Despite Surge In Tesla Stock, Investment Director Stresses Concerns Over Fundamentals And Demand: 'Bottom Line...Fundamentals Are Not Good'
Portfolio Pulse from Benzinga Neuro
Mark Hawtin of GAM Investments expressed concerns about Tesla Inc.'s fundamentals and demand, despite its stock surge. He cited increasing competition in the EV market and potential issues from Tesla's aggressive price cuts. Tesla's Q1 earnings showed a 9% revenue decrease year-over-year, missing estimates, and the company announced layoffs as part of cost-cutting measures. Skepticism also surrounds Tesla's robo-taxis viability and its full self-driving software rollout in China.
May 02, 2024 | 12:12 pm
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Mark Hawtin of GAM Investments is concerned about Tesla's fundamentals and demand, despite a recent stock surge. Tesla's Q1 earnings missed estimates with a 9% revenue decrease, and the company announced significant layoffs.
Hawtin's concerns about Tesla's fundamentals and the competitive EV market, combined with the Q1 earnings miss and layoffs, could negatively impact investor sentiment in the short term, likely leading to a decrease in stock price.
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