• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Investing Pro: Tesla stock is not a ‘buy’ even if Musk quits Twitter
Investing

Pro: Tesla stock is not a ‘buy’ even if Musk quits Twitter

by December 20, 2022
by December 20, 2022 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Tesla Inc (NASDAQ: TSLA) remained in the headlines this morning following a CNBC report that Elon Musk is actively looking for a new Chief Executive to run Twitter.

Tesla stock is still not worth buying

That’s a bit of a relief since many attributed part of the recent sell-off in shares of Tesla Inc to him overspending time in running the troubled social network.

Still, Gordon Johnson of GLJ Research reiterates that the stock is not worth buying even without the Twitter noise because the said weakness is more company specific.

You’re talking about a company engaging in margin slashing price cuts – it’s a car company that has built too much capacity that they can’t sell. Yet, it’s valued at more than the next four largest automakers combined.

For the year, Tesla stock is down nearly 65% for the year.

Tesla can’t sell what it’s producing

Tesla produced more vehicles than it sold in each of its past three quarters even though its factories are not operating at full capacities – and Johnson expects that trend to continue moving forward. On CNBC’s “Squawk Box”, he noted:

I think that when you see the fourth-quarter delivery numbers and more importantly, when you see the first-quarter delivery numbers, the stock’s going to come under tremendous pressure.

Currently, the electric vehicles manufacturer has its order backlog under 200,000 units versus 2.5 times about six months ago.  

In total Elon Musk has sold nearly $23 billion worth of Tesla stock this year to fund his $44 billion takeover of Twitter Inc.

The post Pro: Tesla stock is not a ‘buy’ even if Musk quits Twitter appeared first on Invezz.

You Might Also Like
  • Jim Cramer disagrees with Jamie Dimon on recession
  • US inflation remains elevated but falling – time to buy equities?
  • Metacade token MCADE to list on BitMart
  • Cramer reveals three industrial stocks worth owning for 2023
Share
0
FacebookTwitterPinterestWhatsapp

previous post
The installed base of fleet management systems in Australia and New Zealand to exceed 2.3 million units by 2026
next post
OKX Chain launches Liquid Staking with up to 40% APR

You may also like

2022 Inflation statistics: how bad is it worldwide?

December 2, 2022

Lululemon stock sinks following lowered outlook: buy the dip?

January 9, 2023

WisdomTree unveils nine new blockchain-enabled funds

December 14, 2022

TuSimple Holdings stock on a downward spiral on looming layoffs

December 19, 2022

As Asana stock price tumbles, has it become a bargain?

December 2, 2022

Fed minutes indicate smaller rate hikes ahead: time to buy?

November 24, 2022

Litecoin price: Here’s why LTC has spiked 34% this week

November 23, 2022

Jim Cramer sees more upside in the Etsy stock

December 1, 2022

How did stock indexes perform in 2022? What next for...

January 5, 2023

Cowen names Take-Two stock its best idea for 2023

December 19, 2022

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,632 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,302 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    What’s happening to the Roblox stock...

    December 15, 2022

    SPX Options vs. SPY Options: Which...

    March 15, 2024

    Coinbase, Galaxy Digital shares rise sharply...

    December 29, 2022
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here