Tesla (TSLA) is doing so well these days that bears are now grabbing straws with some no-burger stories to try and sketch good results in bad light.
You can smell the desperation.
Tesla announced its Q1 2021 delivery and production results last week.
The carmaker delivered more than 184,000 vehicles in the first three months of the year – beating virtually all expectations of viewers in the industry.
Tesla’s delivery is 110% higher than a year – on – year year and it has beaten its own all – time delivery record.
Wall Street has digested the results and most analysts need to review their estimates after Tesla beat expectations.
But one analyst, Gordon Johnson, GLJ Research analyst and longtime Tesla bear, was not impressed.
Instead of concentrating on Tesla delivering a record number of vehicles – building on the already large lead in electrification of the carmaker, Johnson is concentrating on a rumor that Tesla is discounting 1,000 Model 3 vehicles in China.
The unknown rumor was shared on social media today, stating that Tesla 1000 Discounted Model 3 vehicles for employees of CATL, one of Tesla’s battery suppliers:
Johnson sent the story to financial media sites and said via Street Insider:
‘Well, there is no reason for TSLA to sell 1,000 cars at a 20% discount IF they have orders for cars that had no discount. At the end of the first quarter of the year, TSLA therefore had no more orders for its cars, and therefore had to give a 20% discount on cars that had already been reduced by 19-30%. ”
China is a key market for Tesla and is expected to have contributed more than 40,000 vehicles during the last quarter.
According to Tip Ranks, Gordon Johnson is one of the worst financial analysts in the world, ranking 7,161 out of 7,425 analysts on the platform.
Electrek’s Take
Is that where Tesla Bears are now? Tesla delivers a record number of vehicles – beating all expectations and instead focusing on an unverified rumor from an unnamed source on social media?
The desperation is obvious.
Even if the rumor turns out to be true, who cares? This was perhaps part of a larger deal, given all the business Tesla does with CATL.
Although Tesla does not yet have millions of units a year, it has become a major automaker, which, as Johnson said, would be impossible for years.
Now they do not know what to do with it and grab onto straws to try to paint Tesla in a bad light.
There are still a lot of “TSLAQ” people out there, but they are not as loud as they used to be and they are less popular on Wall Street.
Johnson is one of the last and this is not surprising because he turns out to be one of the worst analysts in the world and says something because there are a lot of people who are terribly busy with the work.
According to Tip Ranks, he had a sales rating on Tesla’s share, as it was worth $ 60 and it was now worth almost $ 700, and he also did badly for other green companies like SolarEdge.
He is extraordinarily bad among extraordinarily bad people. Why he uses his Tesla approach through financial media like Street Insider is my understanding.
Full disclosure: I own TSLA shares.
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