Investor Danny Moses predicts Teslaโs downfall
Danny Moses, an investor renowned for his successful bet against the housing market in 2008, alongside Michael Burry, has set his sights on Teslaโs (NASDAQ: TSLA) stock, predicting a significant decline to $50.
Challenges facing Tesla according to Moses
Moses points out various challenges that Tesla is currently facing, including layoffs within the company, an investigation into securities and wire fraud, and uncertainties surrounding the Robotaxi project. He also expresses doubts about the long-term viability of Tesla’s AI ventures and questions the company’s current valuation.
- Moses highlights concerns about Elon Musk’s decision to lay off over 10% of Tesla’s global workforce.
- He raises skepticism about the Robotaxi initiative and the AI ventures, suggesting that initial enthusiasm may wane over time.
- Moses questions Tesla’s current valuation and proposes a $150 billion market cap at $50 could be more reasonable.
Wayve emerges as a strong competitor
Moses sees Wayve, an autonomous driving company, as a formidable challenger to Tesla. He notes Wayve’s progress in utilizing autonomy technology for urban driving and highlights the company’s recent funding of over $1 billion to further develop its automated driving products.
- Wayve’s recent announcement of securing funding of over $1 billion to enhance its automated driving products.
- Key investors in Wayve’s funding round include Nvidia (NASDAQ: NVDA), Microsoft (NASDAQ: MSFT), and SoftBank (TYO: 9984).
- Moses also has a stake in Wayve through a venture capital fund.
Hot Take: Will Tesla falter under the pressure?
As an investor with a keen eye for market trends, Moses’ predictions about Tesla’s future are worth noting. The challenges facing Tesla, including layoffs, investigations, and uncertainties, could potentially lead to a significant downturn in the company’s stock value. Moses’ belief in Wayve as a strong competitor to Tesla further adds to the intrigue of the evolving autonomous driving industry.
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