Analyst Calls Tesla’s Quarter One of the ‘Top Debacles’ in 20 Years of Tech
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Tesla Inc.’s latest first quarter was “one of top debacles” ever seen in 20 years of covering tech stocks on the Street, Wedbush analyst Daniel Ives said on Thursday.
The analyst said the company’s guidance was aggressive and the management was not doing enough to cut costs, preserve capital and provide a sustained path to profitability. “Musk & Co. in an episode out of the ‘The Twilight Zone’ act as if demand and profitability will magically return to the Tesla story,” Ives said.