A potential bounce for beaten down Tesla Inc. shares could be worthwhile for short-term traders, but probably doesn’t argue for a long-term investment, a widely followed technical analyst said in a Wednesday note.
“I have little interest in TSLA right now as an investment. It’s overvalued and run by a CEO who clearly has other priorities and who has effectively become public enemy number one to much of its potential customer base,” said Andrew Adams in a note for Saut Strategy, referring to Tesla TSLA Chief Executive Elon Musk.
Tesla shares were up 0.8% in afternoon trade, on track to snap a three-day losing streak. The company is planning another round of layoffs for the first quarter and is instituting a hiring freeze, Electrek reported on Wednesday, citing a person familiar with the matter.The decision, the report noted, would follow extensive growth for the company and a 61% drop for Tesla shares n the year to date.
Read: Tesla stock closes lower than $150 for first time in more than two years as analysts say they can’t ignore Elon Musk’s Twitter ‘nightmare’ anymore
Weird. I’m not a fan of electric vehicles (as they are right now) but I still buy cheap stocks.🤷🏼♂️
Marketwatch: Okay...we hate Elon now..who can we use as a source to trash Tesla...quick! Intern: I know a dude!
How is it overvalued? Even a comparable analysis wouldn’t work. They even control most of their supply chain with the exception of lithium and a few others.
Andrew Adams knows what he's talking about. Been saying this for a while, finally seeing traction from analysts. He needs to step down to make Tesla profitable again. Way too much political crap coming from Elon, dragging them down.
Nah, he's become liberal leftist enemy. The rest of us pro America and pro freedom of speech people support Elon.
Andrew is tweaking. Must be a Super bagholder
Can't wait to see telsa investors having their shares at 15-20$. They are still up close to 7x in 3 years, so the comment is laughable.
Sounds about right
Is he an 'analyst' or a DNC lobbyist?
Do some semblance of valuation work. This post is pathetic
Never mind that all the other car manufacturers have lost more value than Tesla in the last month. But don’t let facts get in the way of your liberal narrative