UNITED STATES (VOP TODAY NEWS) — Head of hedge fund Kase Capital Management Whitney Tilson believes that by the end of 2019, the value of shares of the manufacturer of electric vehicles Tesla will fall below $100 apiece.
Earlier, Tilson has already acted with a “bearish” forecast for Tesla.
Now, however, the analyst has become even more convinced of the correctness of his position against the background of recent statements by the company’s founder, Elon Musk.
According to Tilson, the words of a businessman about closing retail stores and reducing employees can be considered the beginning of the end.
“Apparently, Mask no longer has aces in his sleeve, so nothing good will come of his company in the future. I predict that by the end of the year Tesla shares will cost less than $ 100,” the expert predicts.
Despite such negative predictions, Tilson claims to be a big fan of Mask and fully shares his goals. “Although Musk too often behaves like a narcissist child, he is undoubtedly an incredible entrepreneur who has already achieved so much,” the analyst said.
Tesla stock futures declined Wednesday’s trading at 3.09% to $ 276.54 per security. Now the quotes of the manufacturer of electric vehicles are at a minimum in the last four months.
Tesla closes retail stores and shifts to online sales. After the announcement of the transition to online sales of the company’s shares fell by 4.1% to $ 306.8 per share, said Bloomberg.
As Musk calculates, this business optimization step will allow Tesla to reduce transaction costs in 2019 by 5-6%. In addition, prices for Tesla Model 3 will be reduced by 6% – to $ 35,000.
The businessman promised to set this price on the electric car from the moment of its launch in 2017. However, it was not possible to keep the price down – at launch, the minimum price for the Model 3 was $ 49,000, then it dropped to $ 42,900.
This article is written and prepared by our foreign editors writing for VOP from different countries around the world – edited and published by VOP staff in our newsroom.
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