'Big Short' Fame Investor Expects Elon Musk's Tesla Shares To Plunge 70%: 'People Are Going To Start To Lose Patience'
Portfolio Pulse from Benzinga Neuro
Danny Moses, known for his role in the 'Big Short,' predicts Tesla Inc.'s (NASDAQ:TSLA) stock will drop 70% to $50, citing concerns over the company's focus on robotaxis and AI while facing fundamental business challenges. Despite Tesla's efforts in these areas, Moses remains skeptical, especially with the DOJ investigating Tesla's self-driving claims. Meanwhile, Moses praised Wayve, an autonomous driving company, for securing $1 billion in funding.
May 14, 2024 | 6:17 am
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Tesla's stock is predicted to face a significant drop due to concerns over its focus on robotaxis and AI, fundamental business challenges, and a DOJ investigation into its self-driving claims.
Moses' prediction is based on Tesla's shift in focus towards AI and robotaxis, which he believes is distracting from core business issues. The DOJ investigation into Tesla's self-driving claims further compounds the skepticism around the company's future prospects. Given Moses' track record and the specific challenges highlighted, there's a high likelihood of negative short-term impact on Tesla's stock.
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