'They're Nowhere Near Being Robotaxis': Bearish Tesla Analyst Says Musk Is Promoting 'Smoke And Mirrors,' Stock Is Overvalued
Portfolio Pulse from Aaron Bry
Gordon Johnson, founder of GJC Research, expressed a bearish outlook on Tesla Inc (NASDAQ:TSLA) during an interview on Benzinga's PreMarket Prep. He cited declining margins, reduced growth in car sales, and skepticism about Tesla's robotaxi capabilities as reasons for his belief that Tesla's stock is overvalued and could fall below $30 per share.
July 05, 2024 | 4:46 pm
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POSITIVE IMPACT
Johnson mentioned Alphabet Inc's Waymo as a competitor with operational robotaxis, contrasting it with Tesla's lack of lidar technology and feasibility in full-self driving.
Johnson's comparison of Tesla's robotaxi efforts with Alphabet's Waymo, which has operational robotaxis, positions Alphabet positively. This could lead to a favorable short-term impact on Alphabet's stock as it highlights its technological advantage.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Gordon Johnson of GJC Research believes Tesla's stock is overvalued due to declining margins, reduced growth in car sales, and skepticism about the feasibility of Tesla's robotaxi business.
Johnson's analysis highlights key financial and operational challenges for Tesla, including declining margins and reduced growth in car sales. His skepticism about Tesla's robotaxi capabilities further supports his bearish outlook, suggesting potential downward pressure on the stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100