Tesla, Inc. (NASDAQ:TSLA) shares saw a bounce last Thursday after CEO Elon Musk hinted at shareholders’ overwhelming support for his 2018 compensation plan. However, the shares pulled back sharply on Friday after the approval was officially confirmed. A bearish analyst delved into the investment worthiness of the stock in an interview aired last week.
Hugely Dangerous: “Tesla is the biggest stock market bubble in world history and we have just seen the start of it,” said Per Lekander, Clean Energy Transition’s CEO and portfolio manager, in an interview with Yahoo Finance. He said Tesla’s models are outdated, the valuation is insane and earnings are plummeting.
The Tesla bear said he estimates earnings to fall 50% this year. The consensus estimate for 2024 has dropped from $5 at the start of the year to $2.65, he noted, adding ...