“Headline is a surprise to us given significant growth path/expansion ahead for Tesla,” Dan Levy, an analyst at Credit Suisse with an “outperform” rating on the stock, said in a research note Friday.
The report comes at a tumultuous time for Musk and the carmaker he made an EV pioneer. Tesla’s stock has slumped 22% since the billionaire struck a shock deal to acquire Twitter Inc. that now appears to have stalled. Anxiety about the global economy and the impact of China’s Covid-19 lockdown in Shanghai, where Tesla has a factory, have also weighed on the company, which has weathered worldwide supply shortages for components like chips better than most.
“That is why I lived in the factory so much — so that those on the line could see me working alongside them,” he said. “If I had not done that, Tesla would long ago have gone bankrupt.”
Yoh 👀
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