Profitability will not 'magically return to the Tesla story,' analyst says in downgrade

Profitability will not 'magically return to the Tesla story,' analyst says in downgrade

5 years ago
Anonymous $9jpehmcKty

https://www.cnbc.com/2019/04/25/wedbush-downgrades-tesla-profitability-will-not-magically-return.html

Wedbush lowered its rating of Tesla shares to neutral from outperform on Thursday after the company reported a first quarter loss that was far worse than Wall Street expected.

"In our 20 years of covering tech stocks on the Street we view this quarter as one of top debacles we have ever seen while Musk & Co. in an episode out of the Twilight Zone act as if demand and profitability will magically return to the Tesla story," Wedbush analyst Daniel Ives said in a note to investors.

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