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Prominent Tesla Bear Says Shares Could Trade Below $800 in Near-term

TruckElectric

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Prominent Tesla Bear Says Shares Could Trade Below $800 in Near-term

Cybercab Robotaxi Prominent Tesla Bear Says Shares Could Trade Below $800 in Near-term investing-new
Stock MarketsApr 07, 2022 07:35AM ET


Cybercab Robotaxi Prominent Tesla Bear Says Shares Could Trade Below $800 in Near-term LYNXNPEC4317M_L
© Reuters. Prominent Tesla (TSLA) Bear Says Shares Could Trade Below $800 in Near-term
GLJ analyst and a prominent Tesla (NASDAQ:TSLA) bear Gordon Johnson says shares could trade below $800 in the near term.

TSLA is in a downtrend, and has bounced off upside resistance three times now (a dynamic that solidifies the trendline is significant “ i.e., when rejected three times, the trendline become significant," Johnson said.

His comments come after the report emerged that Tesla is recalling 127,785 Model 3 units in China due to manufacturing defects. Tesla's Model 3 vehicles, both imported and China-made, were reported to have minor manufacturing differences in their rear motor inverter power semiconductor parts, as per CnEVPost.

As a result, the defect may cause the inverter to malfunction after the car has been used for a certain period.
The recall includes 34,207 imported Model 3 vehicles and roughly 93,578 China-made units, produced between Jan. 11, 2019, and Jan. 25, 2022.

Tesla plans to update the motor control software in the defective vehicles using the remote vehicle upgrade (OTA) technology, free of charge.

Johnson says the focus will now be on whether the US NHTSA will choose to ignore the recall or take any action.
"Who knows but this seems like a big one," Johnson told clients.
Tesla shares are up 2% in pre-open Thursday.

By Senad Karaahmetovic

https://www.investing.com/news/stoc...uld-trade-below-800-in-nearterm-432SI-2799794



Gordon Johnson: Tesla's Shanghai Factory Could Be Down Until "At Least" Mid May

"In discussions last evening with one of our on-the-ground contacts in China, we were told TSLA’s Shanghai plant will be down until 'at least' mid-May (and not fully-ramped up until 'late 3Q22’ – yes, you heard that right)," Johnson wrote.
https://www.zerohedge.com/markets/g...hai-factory-could-be-down-until-least-mid-may
 
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TruckElectric

TruckElectric

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U.S. State Department orders all non-emergency government staff in Shanghai to leave as Covid surges
PUBLISHED MON, APR 11 20228:56 PM EDTUPDATED 41 MIN AGO
Cybercab Robotaxi Prominent Tesla Bear Says Shares Could Trade Below $800 in Near-term 103176532-cheng_evelyn2

Evelyn Cheng@CHENGEVELYN

https://www.cnbc.com/2022/04/11/us-...aff-in-shanghai-to-leave-as-covid-surges.html

Shanghai's chaotic Covid lockdown puts other Chinese cities on edge
https://www.cnn.com/2022/04/11/china/china-zero-covid-outbreaks-outlook-intl-hnk-mic/index.html

Shanghai’s lockdown resembles a horror movie as residents scream out from high-rise apartments
BY
ANDREW MARQUARDT
April 11, 2022 12:10 PM CDT

https://fortune.com/2022/04/11/shanghai-lockdown-residents-screaming-apartments-covid/


'We are starving': Shanghai residents protest largest lockdown in the world

 
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TruckElectric

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That seems wildly bullish for Gordon "Genius" Johnson.
I expect TSLA could get into 900's upper 800's. The Shanghai factory shutdown is hurting Tesla, the longer the shutdown the worse it will be for the stock.
 
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TruckElectric

TruckElectric

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U.S. State Department orders all non-emergency government staff in Shanghai to leave as Covid surges
PUBLISHED MON, APR 11 20228:56 PM EDTUPDATED 41 MIN AGO
103176532-cheng_evelyn2.jpg

Evelyn Cheng@CHENGEVELYN

https://www.cnbc.com/2022/04/11/us-...aff-in-shanghai-to-leave-as-covid-surges.html

Shanghai's chaotic Covid lockdown puts other Chinese cities on edge
https://www.cnn.com/2022/04/11/china/china-zero-covid-outbreaks-outlook-intl-hnk-mic/index.html

Shanghai’s lockdown resembles a horror movie as residents scream out from high-rise apartments
BY
ANDREW MARQUARDT
April 11, 2022 12:10 PM CDT

https://fortune.com/2022/04/11/shanghai-lockdown-residents-screaming-apartments-covid/


'We are starving': Shanghai residents protest largest lockdown in the world


Mask mandates return as COVID-19 cases rise across U.S.
https://www.cbsnews.com/news/ba2-omicron-covid-19-cases-rise-mask/
 
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TruckElectric

TruckElectric

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Here we go again! Let’s hope we’ve learned from our past experiences and make it though this wave with minimal harm.
The Covid-19 breakout in Shanghai worries me.
 

John K

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Tracking the stock through the year, yes, a dip event has happened near this time of the year. The stock also rebounds.

You can ride the roller coaster or you can try squeezing a bit and hope the forbidden fruit does not burst open.

Either way, nerves will be frayed.

edit: past performance does not promise future performance
 
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Ogre

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Should change the title of this thread to “Man who has been wrong 1000 times about Tesla shoots for 1001”.

Just 18 months ago he said the share price could drop 96%…. Instead it nearly tripled. His estimate of $19/ share was 50x too low. Fifty Times … blindfolded cattle shitting on a grid can make better estimates.

https://www.yahoo.com/news/tesla-stock-could-tumble-over-200529902.html

The man has been wrong so many times about Tesla and by such a large margin it’s a joke. How any reputable journal reposts his crap or reads his estimates is beyond me.
 
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JBee

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Obviously not a reputable journal just a repeatable one?

After the Rodeo I thought Tesla would go up, but not with the twitter issues lurking and EM standing his ground.
 
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TruckElectric

TruckElectric

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How any reputable journal reposts his crap or reads his estimates is beyond me.
Stock was down right at $50.00 today. Somebody is......
 
 
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