A wealth manager dings Tesla, says there's 'absolutely no reason' to own the company's shares right now
While Tesla's 97,000 third-quarter deliveries set a company record, it fell on the low end of Wall Street's consensus estimates, which ranged between 95,000 and 100,000 vehicles.Tesla's stock price has fallen by more than 25% since the beginning of this year, as of Friday morning. According to Mark Tepper, CEO of the wealth-management firm Strategic Wealth Partners, there's "absolutely no reason" to own the electric-car maker's shares.
"What you have here is you have a company that's just, quite frankly, notorious for overpromising and underdelivering, so there's absolutely no reason to own the stock right now," he said.
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