The former hedge-fund manager Whitney Tilson doubled down on his Tesla short thesis on Friday, predicting the company won't ever be profitable again.
The electric-car maker also last week said it was shifting to online-only sales, and shutting down the majority of its 378 retail stores.
"Shifting all sales online, combined with other ongoing cost efficiencies, will enable us to lower all vehicle prices by about 6% on average, allowing us to achieve the $35,000 Model 3 price point earlier than we expected," the company said in a blog post.has been mixed, with the majority of analysts holding firm on their previous calls.
"In our opinion this announcement is a potential game changer for Musk and Tesla as the $35k vehicle at profitable margins is a linchpin to the bull thesis in the name and we view this news as a major step forward," Wedbush's Dan Ives said. Morgan Stanley's Adam Jonas was less optimisitic."While this may stabilize the air-pocket in Q1 sales, we're concerned it's a sign of a brand that may be, at the margin, losing its halo of exclusivity," he said."We think the bears have more material to work with than bulls here."
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Tesla is 'out of bullets' and will plunge below $100 this year, former hedge-fund manager Whitney Tilson saysTesla will tank to below $100 by the end of this year, the former hedge fund manager Whitney Tilson said.
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Tesla is closing stores, shifting all sales onlineThe move to e-commerce only will require Tesla to reduce headcount in sales, CEO Elon Musk confirmed. It should also help cut operating expenses, and bypass local politics that have prevented it from operating its own stores in certain states.
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China is a key market for Tesla, but keep expectations 'very low,' Morgan Stanley saysTesla has ambitious growth targets in China that make Morgan Stanley 'cautious,' exemplified by recent trade issues, analyst Adam Jonas said in note to investors Wednesday.
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Tesla opens Model 3 sales in MexicoThe electric car maker continues the international rollout of its mid-size Model 3 sedan.
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The 'un-iPhone moment' — here's what analysts had to say about Tesla's new Model 3Analysts were unimpressed after Tesla CEO Elon Musk announced a cheaper Model 3 yesterday afternoon.
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Tesla doesn't know where it will build the Model Y as it rolls out more layoffs and cost cutsCurrent and former Tesla employees say the company reduced headcount by at least another eight percent.
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Tesla says new Superchargers let drivers fill up faster, 75 miles of charge in 5 minutesTesla debuts its V3 Supercharger technology and says 90 percent of Tesla drivers in China have access to its chargers today.
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Tesla enters into agreement with Chinese lenders for Shanghai GigafactoryTesla Inc said on Thursday it signed an agreement with lenders in China for a 12-month facility of up to 3.5 billion yuan ($521.36 million) for its Gigafactory in Shanghai.
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Tesla to unveil Model Y SUV on March 14, Musk says in tweet
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