Analysts: Tesla has become the biggest stock market bubble in history, or the next Enron
In an interview broadcast last week, an analyst who was pessimistic about Tesla said that Tesla was the largest stock market foam in history and might eventually become the next Enron.
Recently, an analyst who is pessimistic about Tesla said that Tesla has become the largest stock market foam in history and may eventually become the next Enron company.
Per Lekander, CEO and portfolio manager of Clean Energy Transition, said in an interview: "Tesla is the largest stock market foam in history, and we have just seen the beginning." He cited reasons including that Tesla's models are outdated, the company's profits have declined significantly and the valuation is too crazy.
This Tesla bearish analyst predicts that Tesla's profits will decrease by 50% this year. He pointed out that the current market consensus on Tesla's 2024 earnings per share has dropped from $5 at the beginning of the year to $2.65, while his forecast is $1.4 per share. The analyst set a target price of $15 for Tesla.
Lekander also pointed out other risks, such as class action lawsuits and the issue of Tesla's board paying high salaries. He added, "I think this is very dangerous, and in the end, it will prove to be the next Enron."
Lekander mentioned that retail investors are currently pushing up Tesla's stock price. He pointed out that while the overall market has risen by about 20% to 25%, Tesla's stock price has already fallen by about 30% this year, and this downward trend is gradually emerging.
He said, "Retail investors need to give up because they are supporting this stock with an unreasonable valuation." He also pointed out that considering the cyclical impact of the company's price cuts, he expects the stock price of the company to further decline as profits face downward pressure.
Lekander stated that despite decent profits, Tesla's delivery volume in the first quarter was poor. In the second quarter of this year, Tesla made every effort to drive car sales, including offering financing rates close to 0%. Lekander expressed concern that Tesla may experience losses in the second and third quarters.
As a leader in the global electric vehicle market, Tesla's stock price fluctuations have always been closely monitored by the market. However, as the company faces increasing challenges and uncertainties, investors remain cautious about Tesla's future development.
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