Tesla’s stock gets a sell rating from HSBC analysts
Wall Street on Thursday welcomed a new bear on Tesla Inc., with analysts at HSBC questioning the timing of the EV maker’s projects and saying that “charismatic” Chief Executive Elon Musk is both an asset and a risk.
As for Musk, they said, having a “charismatic and convincing” CEO supports the that hope element on Tesla’s valuation. His global fame has afforded the company a customer awareness that far outweighs money spent in marketing an advertising, which they called a “tangible” benefit.But Musk’s “prominence presents a considerable ‘singleman’ risk,” the analysts said.
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