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Tesla Bull Warns Ditching Cheaper Car Would Be ‘Thesis-Changing' [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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Most Read from Bloomberg Dubai Grinds to Standstill as Flooding Hits City Elon Wants His Money Back Singapore Loses ‘World's Best Airport' Crown to Qatar Record Rainfall in Dubai? Blame Climate Change, Not Cloud Seeding Red Lobster Considers Bankruptcy to Deal With Leases and Labor Costs As the electric-vehicle maker's outlook comes into question — pushing its market valuation below $500 billion this week, a level last seen more than a year ago — David Baron is dispirited by recent reports that Tesla could ditch its goal to bring an affordable car to the masses and shift resources to developing a robotaxi instead. While that's far from his base case, and Musk denied a Reuters article that first reported the news, the fund manager warns any reversal in the company's plan threatens to put his eye-catching calls on the stock in jeopardy without fresh sources of growth. The investor expects the shares to jump to $1,200 over time, an over 680% gain from Wednesday's close.
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