Tesla shares are down today on a new downgrade by Lee Munson from Portfolio Wealth Advisors (down 2.32% as of this writing). The reasoning behind this downgrade is in Tesla financials. They are just not making any money – and how long can the company survive without making a cent of profits?
Yes, Elon is a genius. Yes – he has a lot of money. And yes – Wall Street loves the tales and princes. But the patience of the Wall Street is running out.
On the positive side, Tesla finally produced 5,000 Model 3 cars last week and is aiming at producing 6,000 in the nearest future. Will that be enough to pacify and excite Wall Street remains to be seen?
Oh, yes – and the cars are stunning!