“Taking a hit”?
In a story in ValueWalk, author Mark Melin claims: “Tesla Motors Inc Taking A Hit In London and With Long Time Bull“.
Tesla Motors Inc (NASDAQ:TSLA), the stock people love and love to hate on, is currently in the hate phase of its relationship with certain hedge funds and stock analysts.
Speaking in London, famed short seller Jim Chanos added his name to the list of those who think Tesla is overvalued. Chanos was quoted as saying Tesla is a testament to “our ability to trust 10 year forecasts from people who can’t get 1 year forecasts right.”
Negative comments from Chanos come as one of Tesla Motors Inc (NASDAQ:TSLA)’s most ardent supporters on Wall Street reduced his expectations for the electronic car maker.
Morgan Stanley analyst Adam Jonas slashed his 2015 earnings expectations for Tesla in half and cut sales expectations for the company’s SUV style Model X to 5,000 units from 15,000.
To which Musk responds:
“There are many other companies that do not follow this philosophy that may be a more attractive home for investor capital,” Musk wrote in a letter to shareholders. “Tesla is not going to change.”
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