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Tesla bear says stock is 'detached from reality,' predicts $87 price target by end of year
Posted on 8/26/20 at 2:45 am
Posted on 8/26/20 at 2:45 am
quote:
“Tesla (TSLA) is detached from reality,” says one Tesla bear.
“In a nutshell, Tesla is essentially a busted growth story. I know that sounds crazy to people looking at the stock,” Gordon Johnson, CEO and founder of GLJ Research, told Yahoo Finance’s the First Trade.
Johnson has an $87 price target on the stock by the end of next year. (You read that correctly.)
Tesla is “trading at more than double VW’s (VOW3.DE) market cap, yet VW sold 11 million cars last year. Tesla sold just under 370,000 cars last year, looking to sell roughly 500,000 cars this year,” said Johnson.
He notes that without the electric vehicle company’s credit revenue sales, it would’ve lost about $300 million in the second quarter of this year.
“That’s essentially taxpayer incentives that they’re getting for selling credit revenues to other car companies, “ said Johnson.“The problem is all of those car companies are now selling electric cars, and Tesla is guiding their credit revenue sales to be down 50% in the back half of this year.”
“Their core business is loss-making,” he added.
Johnson points to domestic sales and U.S. gross margins which “peaked in the fourth quarter of ‘18,” and notes the China growth story touted by some analysts isn’t that impressive.
“The reality is in the month of July they sold about 11.4 thousand cars in China. They produced about 12.2 [thousand] so they actually built inventory, and that’s despite a price cuts globally this year, four of which were in China,” said Johnson.
“We think reality is much different than what is being pumped out there and we think the stock price is driving analyst opinions which is the buffounding to us, versus reality,” he added.
Tesla has made heads spin and sent analysts racing to re-rate over the last several months.
Year-to-date the stock is up about 385%. Shares will start trading on a split-adjusted basis on August 31st as announced earlier this month.
The stocks valuation in recent weeks has been called “mind-boggling” by one analyst.
In July one of Tesla’s biggest bulls saw the stock headed to $2,322.
Wedbush’s bull Dan Ives recently raised his price target to $1,900. He told Yahoo Finance Tesla “is a tech company, not an automobile company,” pointing to the upcoming Battery Day next month.
But Johnson is sticking to his bearish call, with a just-wait-and-see perspective.
“The real data doesn’t match up. We think once that matches up, you’re going to have selling which we think will drive the stock lower,” he added.
LINK
How much money is this guy going to lose? $87? Really?
Posted on 8/26/20 at 5:46 am to rickgrimes
99% of the stock market is detached from reality, if we’re telling the truth here.
Posted on 8/26/20 at 6:18 am to rickgrimes
he's just as far detached from reality, if not further, but in the opposite direction.
Posted on 8/26/20 at 6:59 am to rickgrimes
Meh. Mr Perfect's army will make sure that doesn't happen
Posted on 8/26/20 at 7:17 am to rickgrimes
quote:
Tesla is “trading at more than double VW’s (VOW3.DE) market cap, yet VW sold 11 million cars last year. Tesla sold just under 370,000 cars last year, looking to sell roughly 500,000 cars this year,” said Johnson.
He just does not get it
Posted on 8/26/20 at 8:09 am to rickgrimes
Can he explain how more than half the market cap will poof into thin air when the stock pumping CEO owns half the shares?
Posted on 8/26/20 at 8:16 am to rickgrimes
It sure seems like there are a lot of folks who we'll call "financial journalists and pundits" trumpeting the overvalue of tech stocks right now. I get it and I'll say that I'm getting more bearish on tech, ever so slightly, by the day. I'm putting my money where my mouth is and taking some profit on a few tech stocks and a certain fund and putting some cash on the sidelines. But that's a significant, life of company and investor altering projection.
Posted on 8/26/20 at 8:24 am to rickgrimes
quote:
Gordon Johnson, CEO and founder of GLJ Research, told Yahoo Finance’s the First Trade.
lol Gordon Johnson is a known tesla short seller for years now. He has been fired from his past two jobs and has a negative return rate over the last two years. He has lost a boat load of money shorting tesla.
Posted on 8/26/20 at 1:36 pm to planecopy
And lost a lot more today if he's still short selling. Poor guy
Posted on 8/26/20 at 1:57 pm to castorinho
my army is out of tsla because it split the group on how to trade it. lost over 200 members
Posted on 8/26/20 at 2:02 pm to Mr Perfect
quote:
my army is out of tsla because it split the group on how to trade it. lost over 200 members
Posted on 8/26/20 at 3:56 pm to Mr Perfect
quote:
my army is out of tsla because it split the group on how to trade it. lost over 200 members
What's your position?
Are you a Tesla fan or just doing a wsb schtick?
Posted on 8/26/20 at 5:03 pm to Dr.Funke
sold my shares at $1575 my bro. bought at $450. not sure what wsb is. my army uses slack and discord to trade options and discuss facts
Posted on 8/26/20 at 6:21 pm to Mr Perfect
quote:That's odd. You posted multiple times in July that you were "out the door" when you sold at $1,475.
sold my shares at $1575
I would think a self-proclaimed genius like you would remember the price at which you sold a major holding.
Or, are you just full of shite and never owned TSLA in the first place?
quote:LINK
$1475 my guy
quote:LINK
told you that why I sold at $1475
quote:LINK
sold mine at $1475 out the door.
Posted on 8/26/20 at 6:40 pm to LSURussian
okay you're right on that one. $1475. mistake by me.
Posted on 8/27/20 at 8:29 am to rickgrimes
this stock has changed my life. Lol
I'm addicted to stocks now. Before I just had long holds. Now I'm in options. I made a killing on NIO the other day. $0.32 contacts rose to $4.29 on a $15.50 strike. The stock went over $20.
I got my first Tesla at $915 and made $1200 The last at a record high of $1676 has still returned $500.
SHLL has also made a killing.
What's this got to do with anything?
EV stocks are out of control. Get in now. Robin Hood effect is about to play out after the 5 way split.
All of this is tied to the success of Tesla.
I'm addicted to stocks now. Before I just had long holds. Now I'm in options. I made a killing on NIO the other day. $0.32 contacts rose to $4.29 on a $15.50 strike. The stock went over $20.
I got my first Tesla at $915 and made $1200 The last at a record high of $1676 has still returned $500.
SHLL has also made a killing.
What's this got to do with anything?
EV stocks are out of control. Get in now. Robin Hood effect is about to play out after the 5 way split.
All of this is tied to the success of Tesla.
This post was edited on 8/27/20 at 8:31 am
Posted on 8/27/20 at 9:33 pm to Mr Perfect
quote:I find it hard to believe that you’re in this army of young day traders trying to get rich quick, and you don’t know about a 1.5 million person subreddit that is largely comprised of young day traders trying to get rich quick, especially since it’s so large that their manipulation of flaws in Robinhood‘s trading platform has garnered widespread attention here and in major business publications (e.g., CNBC, Bloomberg, Forbes, etc.).
sold my shares at $1575 my bro. bought at $450. not sure what wsb is. my army uses slack and discord to trade options and discuss facts
But the one thing that I appreciate about WSB is that winners (like the guy who turned a little over 30,000 into over a million in just a few months) or losers (regularly losing tens even hundreds of thousands on risky trades) posters provide the evidence of their winning or losing.
And since we’re all skeptical of your winnings, why don’t you post some evidence of it and prove our skepticism wrong, instead of trying to convince us with claims lacking any verification?
Posted on 8/27/20 at 9:51 pm to buckeye_vol
posted my portfolio earnings many times on here dude. many times. then I realized I'm the only one doing it so why should I continue. not going cater to demands on here when I've been forthcoming with all my screenshots while you jokers haven't posted a single shred of evidence. ever
Posted on 8/28/20 at 8:39 am to Mr Perfect
quote:No, you haven't.....dude.
posted my portfolio earnings many times on here dude.
You've posted screen shots of a few trades. Not surprising you only posted winning trades.
You've also recommended several stocks that fell in price after you said you bought them but you never posted screen shots of those trades. I wonder why....
You need to learn what "portfolio" means when it comes to investing. Your using the term incorrectly confirms my opinion that you're basically ignorant when it comes to finance and investing.
Dude.
Posted on 8/28/20 at 9:07 am to LSURussian
why do you care about my few tsla shares? lol why is he that so hard to believe. I had like 4 shares max and you guys cry about it.
I also recommended Solo and that's down bigly but it will print for us. no worries on that one my guy.
my big point is why is my story so unbelievable when jokesters on here brag about much bigger winnings then me. just look at some of these threads lol
my traders portfolio up 60.04% right now.. that's pure facts. my first year trading. not pretending to be expert. but I chain watch YouTube traders tips and information, non stop. very autistic trader who consumes all info relentlessly
I also recommended Solo and that's down bigly but it will print for us. no worries on that one my guy.
my big point is why is my story so unbelievable when jokesters on here brag about much bigger winnings then me. just look at some of these threads lol
my traders portfolio up 60.04% right now.. that's pure facts. my first year trading. not pretending to be expert. but I chain watch YouTube traders tips and information, non stop. very autistic trader who consumes all info relentlessly
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