The former hedge-fund manager Whitney Tilson doubled down on his Tesla short thesis on Friday, predicting the company won't ever be profitable again.
The electric-car maker also last week said it was shifting to online-only sales, and shutting down the majority of its 378 retail stores.
"Shifting all sales online, combined with other ongoing cost efficiencies, will enable us to lower all vehicle prices by about 6% on average, allowing us to achieve the $35,000 Model 3 price point earlier than we expected," the company said in a blog post.has been mixed, with the majority of analysts holding firm on their previous calls.
"In our opinion this announcement is a potential game changer for Musk and Tesla as the $35k vehicle at profitable margins is a linchpin to the bull thesis in the name and we view this news as a major step forward," Wedbush's Dan Ives said. Morgan Stanley's Adam Jonas was less optimisitic."While this may stabilize the air-pocket in Q1 sales, we're concerned it's a sign of a brand that may be, at the margin, losing its halo of exclusivity," he said."We think the bears have more material to work with than bulls here."
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