Big bears sing down Tesla: "The biggest bubble in history, the next Enron"

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A bearish Tesla In an interview broadcast last week, analysts from www. tesla. com said that tesla is the largest stock market bubble in the world history and will eventually prove to be the next enron.

"Tesla is the largest stock market bubble in the world history, and we have just seen its beginning," said Per Lekander, CEO and portfolio manager of Clean Energy Transition in an interview. He said that Tesla's models are outdated, with crazy valuations and plummeting profits.

The bearish person said that he expected Tesla's profit to decline by 50% this year. He pointed out that the current market's general expectation of Tesla's earnings per share in 2024 had dropped from $5 at the beginning of the year to $2.65, and added that his expectation was $1.40 per share. The analyst set a target price of $15 for Tesla.

Lekand also pointed out other risks, such as class action litigation, and the issue of Tesla's board of directors paying huge salaries to itself.

"I think this is very dangerous, and in the end, it will prove to be the next Enron," he added.

Lekand said that retail traders are currently pushing up the stock. He said that although the overall market rose by about 20% - 25%, Tesla fell by about 60% this year, and this spiral decline is gradually realized.

The analyst said: "Retail investors need to give up because they are supporting the valuation of this stock, which is absolutely meaningless." He also said that, in view of the cyclical impact of the company's price cut, he believes that the stock will fall further, because profits are facing downward pressure.

Lekand said that Tesla's delivery in the first quarter was poor, but the profit was good. In the second quarter of this year, the company made every effort to boost car sales, including financing at a rate of nearly 0%. He also raised concerns about the company's possible losses in the second and third quarters.

"I think many fans will run away," he said.

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