Tesla Faces Analyst Worries About Musk Leadership
Tesla faced a downgrade Tuesday by Daiwa's Jairam Nathan after a weekend Wall Street Journal report alleging drug use from CEO Elon Musk that sent the stock price spinning lower. Nathan cited governance concerns with the company in his natural rating and target price cut to $195, worried that Musk could make the firm worse at navigating the EV environment.
$Tesla(TSLA.US$ closed at a nine-month low Monday following the weekend news. Musk also showed up in market news when he was denied a $56B compensation package by a judge who ruled the board of directors was not acting independently to award such a high sum to Musk.
The WSJ report over the weekend also alleged Musk coerced board members to take drugs, and rewarded their loyalty with pay packages in the hundreds of millions.
The drama unfolded while the firm faces a tough market, as commentators describe the ceiling of demand for EVs in the U.S. Hertz began offloading its Tesla EV fleet in January, one of the windfalls of sales that propelled Tesla into the Mag Seven in the first place.
Comments from Musk himself describe competition from China EV companies like $NIO Inc(NIO.US$ or $XPeng(XPEV.US$ as "significant," during the Tesla earnings call that failed to impress investors at the end of January.
"I think they will have significant success outside of China depending on what kind of tariffs or trade barriers are established," Musk said. "Frankly, if no trade barriers are established, they will pretty much demolish most other companies in the world."
Tesla's stock has fallen 26% in the past twelve months, entering technical bear market territory for the new year.
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72734102 : Nathan is Wrong 1/2 The Time! Lmao
HoldEmBags 72734102: Lol
HoldEmBags HoldEmBags: Analysts fake alysts lol
Filomena Angeles : We don’t count Nathan ‘s all negative yet plenty positive to dwell abt Tesla, have faith!
73400842 : Pure BS, they want to take over, the establishments have other plans, so "don't believe the hype" as flava flave would say, Elon must stand firm.
Revelation 6 72734102: You’re being kind. He and his friends probably have a short position.
Revelation 6 73400842: Never count Musk out!
DudeThatsDerpy : Legitimately wondering if Elon is deliberately sabotaging his company...
DudeThatsDerpy 73400842: Ahhh yes, the wise words of Flava Flave.
73103485 王婷4: yeah !!! what he said