Tesla stock is predicted to lose 87% of its value by analyst Gordon Johnson

From NASDAQ.: 2024-04-03 04:00:00

Analyst Gordon Johnson of GLJ Research has a very bearish outlook on Tesla (NASDAQ: TSLA), expecting shares to lose close to 90% of their value. Despite Tesla’s $558 billion market cap, the company sold only 16% of the vehicles that rivals Toyota and BYD did in the past year. Johnson’s sell recommendation includes a price target of $23.53 per share.

Recent developments, including slower EV sales growth and CEO Elon Musk’s controversies, have led to a decline in Tesla’s stock. To regain investor confidence, the company must deliver on promises like its next-generation vehicle platform. While shorting a stock like Tesla comes with risks, Johnson’s extreme price target remains in place, making Tesla a prime short sale candidate.

While Tesla has made it to the list of 10 best stocks to buy, according to Motley Fool Stock Advisor, there are other stocks investors may be overlooking. With Tesla’s stock down 60% from its all-time high, the company faces challenges in winning back investors. Despite the concerns, shorting a stock like Tesla may not be suitable for all investors due to the significant risks involved.



Read more at NASDAQ.: Tesla Stock Has 87% Downside, According to 1 Wall Street Analyst