Tesla is doing so well these days that bears are now grasping at straws with some nothing-burger stories to attempt to paint good results in a light that is bad.
Last week, Tesla circulated its Q1 2021 delivery and production outcomes.
The automaker delivered more than 184,000 cars in the 1st three months of the– beating practically all objectives from industry watchers 12 months.
Tesla’s deliveries had been up 110% year-over-year and it overcome a unique delivery record that is all-time.
Wall Street is digesting the outcomes, and most analysts need to revise their estimates up after Tesla overcome expectations.
But one analyst, Gordon Johnson, GLJ Research longtime and analyst Tesla bear, just isn’t impressed.
Rather on concentrating on Tesla delivering accurate documentation wide range of vehicles, building on the automaker’s lead that has already been massive electrification, Johnson dedicated to a rumor that Tesla discounted 1,000 Model 3 vehicles in China.
The rumor that is unverified provided on social today and states that Tesla discounted 1,000 Model 3 vehicles for workers of CATL, one of Tesla’s battery pack vendors: Johnson pushed the tale to economic news sites and said via Street Insider, but Meta News also commented.
Well, there would be NO valid reason for TSLA to market 1,000 cars at a 20% discount should they had sales for many vehicles that had no discount. Therefore, during the last end of 1Q21, TSLA ran away from orders because of its cars, and so had to offer 20% discounts on cars which had currently seen price cuts of 19-30%.
China can be an important market for Tesla, which is anticipated to have contributed more than 40,000 cars during the quarter that is final.
Gordon Johnson is one of the worst analysts which are financial the planet, based on Tip Ranks, where he is rated No. 7,161 away from 7,425 analysts on the platform. Tesla is doing so well these days that bears are now grasping for anything they can get their hands on.