TSLA - Trump-Vance Administration Will Be 'Terrible' For Tesla Says Bear: Elon Musk 'Has Completely Alienated Most Of His Buying Base' | Benzinga
A Tesla, Inc. (NASDAQ:TSLA) bear on Wednesday said a second term for Republican nominee Donald Trump is a negative for CEO Elon Musk and his electric-vehicle giant.
Terrible For Tesla: Musk has been subject to several Department of Justice investigations, said Stanphyl Capital Managing Member Mark Spiegel. “There are…. several at least fraudulent things he's done in plain sight,” he said, adding that the billionaire is having trouble with the DOJ.
The portfolio manager also said a Trump second term will likely be a negative for Tesla. “It is unquestionable that a Trump-Vance administration is terrible for Tesla from a business standpoint,” he said.
Spiegel noted that Trump has said time and again that he would get rid of all the EV mandates and the so-called Inflation Reduction Act. This meant that Tesla wouldn’t have the margin anymore, he said. If Tesla might get $3,000 in a car and if the $7,500 EV tax credit is eliminated it may have to raise prices, ...