fbpx
ADVERTISEMENT
Tuesday, April 13, 2021
  • Login
  • Register
  • HomeEntertainment
  • Channels Directory
    • Nollywood Movie Channels on Naija Online TV
  • NOTV Services
    • Music Video Directing and shooting
    • Web development, SEO and Social Media Branding
    • Wedding, Corporate and Music Photography
    • Wedding, Corporate and Music Video
  • About Us
    • Cookie Policy
    • Contact Us
    • Faqs
  • My account
    • Cart
    • Checkout
  • HomeEntertainment
  • Channels Directory
    • Nollywood Movie Channels on Naija Online TV
  • NOTV Services
    • Music Video Directing and shooting
    • Web development, SEO and Social Media Branding
    • Wedding, Corporate and Music Photography
    • Wedding, Corporate and Music Video
  • About Us
    • Cookie Policy
    • Contact Us
    • Faqs
  • My account
    • Cart
    • Checkout
No Result
View All Result
Naija Online TV Blog
Click to Watch
ADVERTISEMENT
  • HomeEntertainment
  • Channels Directory
    • Nollywood Movie Channels on Naija Online TV
  • NOTV Services
    • Music Video Directing and shooting
    • Web development, SEO and Social Media Branding
    • Wedding, Corporate and Music Photography
    • Wedding, Corporate and Music Video
  • About Us
    • Cookie Policy
    • Contact Us
    • Faqs
  • My account
    • Cart
    • Checkout
No Result
View All Result
Naija Online TV Blog
No Result
View All Result
ADVERTISEMENT
Home News Business
Tesla is in a bubble and it’s ‘going down,’ top fund manager says

Tesla is in a bubble and it’s ‘going down,’ top fund manager says

Melveen Illahh by Melveen Illahh
4 weeks ago
in Business, News, Technology, World news
Reading Time: 3 mins read
0
Your browser does not support the video tag.
ADVERTISEMENT
Share on FacebookShare on TwitterShare to WhatsApp
ADVERTISEMENT


Tesla is in a bubble and it’s ‘going down,’ top fund manager says

Tesla’s market cap soared to over $800 billion in the 12 months leading up to January, before dropping to less than $600 billion in February.

It now stands at around $679 billion.

Lekander told news men on Tuesday that he thinks Tesla is in a bubble and that he’s short on Elon Musk’s firm, meaning he will profit if the value of Tesla’s stock falls.

“My take is that this year is going to be the comeback for the incumbents,” said Lekander, calling out German carmaker Volkswagen, which is valued at 119 billion euros ($141 billion), as one company he’s particularly bullish on.

“There are a few golden nuggets, which I think are going to be long-term winners. But in the short term, my guess if I’m right on the macro call that interest rates go up and the market wakes up to (the fact that) the incumbents are not as badly positioned as they think, then yes, I think Tesla is going down.”

Some other market watchers will likely disagree with that prediction. Wedbush analyst Dan Ives, for example, believes Tesla’s shares will recover after a volatile start to the year.

“Tesla’s success ramping its EV (electric vehicle) initiatives and demand in China for the month of March that will catalyze shares higher after a shaky January and a robust month of February,” said Ives in a note on Monday.

Tesla did not immediately respond to a CNBC request for comment.

Lekander drew comparisons to the dot-com boom of 1999.

“If you think about the visionaries who talked about the internet in 1999, if you now listen to them, they are actually underestimating what happened,” he said. “The development was even more radical than what happened.”

He pointed out that Cisco arguably a poster child for that period has a much higher market value today than it had in 2000. “It didn’t stop it from going down 80% first,” he said.

The equivalent in Europe was probably Nokia, Lekander added, saying that it also went down 80%.

“I think that is what we are going to see here in this tech spec hype space,” he said.

In May, Tesla started production at its California factory following a pandemic-related shutdown and legal battle with the state. In July, Tesla posted its fourth straight quarter of profit and beat delivery estimates. Shares also got a boost at the end of the summer when Tesla announced its first ever stock split.


In December, Tesla shares soared to a record high after the electric car maker announced it was debuting on the S&P 500. But in January, the company missed on earnings for its fourth quarter and the stock immediately fell around 5%.

Last month, Tesla revealed that it had bought $1.5 billion worth of bitcoin. Tech research firm Wedbush believes that the company has already made a $1.2 billion profit on its investment.

Tesla officially gave CEO Musk the title of “Technoking of Tesla” in a new regulatory filing on Monday.

Musk will retain his position as chief executive officer, Tesla said. Zach Kirkhorn, the company’s chief financial officer, has also been given a new title: “Master of Coin.”

“We believe this hints at Musk viewing Tesla more as a technology disruptor in the future especially with robotaxis, FSD (full self-driving), and massive battery technology advancements on the horizon at Tesla,” said Ives.

CNBC

Share with:


Celebs On Check with Danny Erskine Celebs On Check with Danny Erskine Celebs On Check with Danny Erskine
ADVERTISEMENT
ADVERTISEMENT

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pocket (Opens in new window)
  • Click to email this to a friend (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Telegram (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)

Related

Tags: market capTeslaTesla’s market capVolkswagen
ADVERTISEMENT
Previous Post

Head of US homeland security defends Biden immigration policies

Next Post

EFCC gives bankers, others June 1 deadline to declare assets

Melveen Illahh

Melveen Illahh

Related Posts

No Content Available
Load More
Next Post
EFCC gives bankers, others June 1 deadline to declare assets

EFCC gives bankers, others June 1 deadline to declare assets

Discussion about this post

Advertisement

Category

Ads

Popular Stories this week

  • Tanzania’s new president lifts media ban

    Tanzania’s new president lifts media ban

    0 shares
    Share 0 Tweet 0
  • Easter Vigil: Don’t lose hope in Coronavirus times, says Pope

    0 shares
    Share 0 Tweet 0
  • Caught my husband cheating on me two times – Wife of former Oyo state governor

    0 shares
    Share 0 Tweet 0
  • FOCUS – KORA AWARD NOMINEE, REEKADO BANKS (NIGERIA), MOST PROMISING MALE ARTISTE

    0 shares
    Share 0 Tweet 0
  • Notorious drug baron busted in Nasarawa

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT

Sponsored

Sponsored

Like our FB Page

Like our FB Page
  • About
  • Advertise
  • Careers
  • Contact

© 2019 NOTV Blog - Nigeria's to the world & Online TV Bouquet Naija Online TV.

No Result
View All Result
  • Home
  • Channels Directory
    • Nollywood Movie Channels on Naija Online TV
  • NOTV Services
    • Music Video Directing and shooting
    • Web development, SEO and Social Media Branding
    • Wedding, Corporate and Music Photography
    • Wedding, Corporate and Music Video
  • About Us
    • Cookie Policy
    • Contact Us
    • Faqs
  • My account
    • Cart
    • Checkout

© 2019 NOTV Blog - Nigeria's to the world & Online TV Bouquet Naija Online TV.

Welcome Back!

Sign In with Facebook
Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Google
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.