Tesla CEO Elon MuskBusiness Insider/Samantha Lee
According to Per Lekander, a long-time bear who has been shorting Tesla’s stock since 2020, Tesla could potentially plummet to as low as $14 per share.
Lekander, who has been shorting Tesla’s stock since 2020, describes it as the most significant bubble “in modern history.”
The EV maker led by Elon Musk is currently grappling with demand issues and struggling with its business model, as stated by Lekander.
Hedge funder and long-time bear Per Lekander believes that Tesla’s stock is overvalued and lacks growth potential, making it vulnerable to bankruptcy.
Lekander, who has been shorting Tesla stock since 2020, issued a fresh warning for Elon Musk’s EV maker on Wednesday. The stock has already declined by 34% this year due to concerns about EV demand and Musk’s dedication to the company. Additionally, car deliveries were lower than expected in the first quarter, further worsening the sentiment on Wall Street towards the once-favored stock.
“This was really the beginning of the end of the…
2024-04-03 18:20:29
Article from finance.yahoo.com