Tesla Stock: Get Ready For New Lows Ahead


  • Tesla, Inc. stock has lost 33% of its year-to-date value and keeps correcting sharply. Is it time to buy the fear finally? I don’t think so – Read on.
  • Tesla’s Q1 2024 delivery and production numbers fell short of estimates, indicating a decline in demand and market share.
  • The ongoing supply-demand issues are forcing further price cuts or the maintenance of moderate pricing, which could likely keep the margins under pressure.
  • Tesla maintains a high FWD P/E ratio of ~64x, nearly 4 times that of its Consumer Discretionary sector peers, while its EBITDA forward growth rate surpasses the sector by just 24 basis points.
  • I maintain my cautious view of Tesla’s prospects, reiterating the “Sell” rating. I’d recommend being ready for new local lows ahead.

The New York Times Dealbook Summit 2023

Slaven Vlasic

Intro & Thesis

Almost exactly one year ago, on April 6, 2023, I downgraded Tesla, Inc. (NASDAQ:TSLA) stock and strongly recommended investors not to buy the stock when it was on the dip. For several months, I

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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