Lekander warns Tesla ‘could go bust’, sees $TSLA worth $14 only
- Per Lekander says $TSLA is biggest stock market bubble in modern history.
- The Clean Energy Transition managing partner sees Tesla as a no growth stock.
- Tesla stock is now down close to 35% versus the start of this year (2024).
Tesla Inc (NASDAQ: TSLA) should not be worth more than $14 a share, says Per Lekander. He’s a managing partner at Clean Energy Transition.
Lekander sees Tesla stock as a bubble
Copy link to sectionHis bold call arrives a day after the EV giant came in well below Street estimates for deliveries in the first quarter (read more). On CNBC’s “Squawk Box Europe”, Lekander said this morning:
This was the beginning of the end of Tesla bubble, which probably was the biggest stock market bubble in modern history. I actually think the company could go bust.
Per Lekander has been short $TSLA since 2020.
The Nasdaq-listed firm which was reported moving forward with plans of setting up a plant in India today has not so far responded to his remarks on Wednesday.
Lekander dubs $TSLA a ‘no growth’ stock
Copy link to sectionPer Lekander expects Tesla Inc to earn $1.40 on a per-share basis this year.
He sees the $527 billion company based out of Austin, Texas as a “no growth” story and, therefore, finds its fair to be valued at 10 times forward earnings. $TSLA, in comparison, has a forward multiple of 58 times at writing.
The electric vehicles behemoth is scheduled to report its full financial report for the first quarter on April 17th.
Note that Lekander’s view is in stark contrast with Cathie Wood of Ark Invest who loaded up on shares of Tesla again on the weakness this morning saying it “epitomizes the convergence among technologies we see today”.
