TSLA Share $24.33 by End Of 2023 says CEO, GLS Research.
There is a saying "Misfortunes Never Comes Singly".
In simple English, it means that "bad things or situations always come in groups, they never come in a single way".
It couldn't be more true than the present moment for mr musk no.
Original doc - https://finance.yahoo.com/news/tesla-biggest-bear-says-company-204719335.html
Precursor - please read above linked-article and form your own opinion first ok. Thanks.
Gordon Johnson - CEO of GLJ Research, felt vindicated; after years of abuse from bullish $Tesla Motors(TSLA)$ analysts & investors, for his view that Elon Musk’s EV giant has always been overvalued.
- The cumulative fall in stock price last year to a whooping tune of -70% has begun to gain believers ?
- The once invincible almighty has become just a car company that can't sell its capacity
- Latest Q4 2022 deliveries miss is a preview of what’s to come in 2023
- Actual Q4 2022 new orders of approx. 250,000 EVs is actually down QoQ & YoY, comparatively speaking.
- Disparity between demand and Tesla's "as if" its still a hyper-growth stock is the real reason why price is imploding.
- All these & more will lead Tesla stock price to further consolidate to $24.33 at the end of 2023; said Gordon Johnson.
- Most surprising comment was from Dan Ives, MD & Senior Equity Research Analyst at Wedbush Securities - "Tesla stock will rise to $175 per share, on the back of continued sales growth", he said.
- Is Mr Ives confirming that at best Tesla stock price will peak at $175 max ? That would be an "Ouch" for investors who have bought Tesla stock at whatever price (above its current languishing $110 - 05 Jan 2023 closing price) no ?
- Perhaps the most "sound" argument put forth by Mr Johnson was the analogy between Toyota and Tesla.
- Is it logical that Toyota stock price is < Tesla's given that Toyota produces 11 Million cars a year (ICE & Hybrid) vs Tesla's 1.3 Million EVs ?
- Of course, we have not forgotten about the false apparitions & grossly lapsed timeline - painted by mr musk about (a) autonomous driving (b) cybertruck
“Do you see a pattern here?”, Warning investors not to get sucked into stories and instead focus on real developments.... said Gordon Johnson,
Based on 05 Jan 2023 Closing Price, Is $24.33 A Possibility ?
Will stock price trend lower as US economy slips into recession ?
- Do you think the argument put forth holds water ?
- Do you think the stock price prediction is fair giving the challenges facing Tesla and not to mention Twitter ?
- If you are a shareholder, will you still give mr musk one more chance to prove himself ?
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Matching song ? One More Chance by Michael Jackson. Dunno ? YouTube it . Its the King of Pop yo !
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