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Musk’s EV maker could ‘go bust’ and stock is worth $14

admin 2024.04.03 10:34 Views : 155

  • Tesla could “go bust” while its stock could fall to $14, Per Lekander, a hedge fund manager who has been shorting Elon Musk’s electric car maker since 2020, told CNBC on Wednesday.
  • His comments come after Tesla reported 386,810 vehicle deliveries in the first quarter of the year, significantly below even the lowest market estimates.
  • Lekander joins a growing chorus of negative voices on Tesla which is facing a price war, intense competition from Chinese players and weakening demand for its electric cars.

  • Tesla could “go bust” while its stock could fall to $14, Per Lekander, a hedge fund manager who has been shorting Elon Musk’s electric car maker since 2020, told CNBC on Wednesday.

    His comments come after Tesla reported 386,810 vehicle deliveries in the first quarter of the year, significantly below even the lowest market estimates.

     

    “This was really the beginning of the end of the Tesla bubble, which probably, arguably was the biggest stock market bubble in modern history,” Lekander, managing partner at investment management firm Clean Energy Transition, said on “Squawk Box Europe.”

    “I actually think the company could go bust.”

    Tesla was not immediately available for comment when contacted by CNBC.

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