GLJ Research analyst Gordon Johnson is out with another shocking Tesla price prediction, this time he believes the Share price of the world most valuable electric car marker is headed below $200 by EOY 2020.
In Q42019, Johnson predicted that Tesla will miss all estimates dramatically by 12%, and reiterated a Sell rating and price target of $44.52. That prediction though, did not end well for the analyst.
Tesla beats all estimations front and back in Q42019.
For Q42019, Johnson said the data through May 2019 suggested global shipments of about 92.5K, versus the company’s guidance of around 104.8K – a 12% miss. Tesla on the other hand, broke that record, and delivered 112,000 cars in Q42019.
Gordon Johnson latest comment on Tesla delivery is based on the most recent Oil price crash. According to him in an post shared by NYPost, oil crash will impact the electric car marker massively.
“Lower gas prices are very bad for alternative energy. As gas goes down to $1.50, not as many people will want to buy electric cars, and at the same time a credit crunch will mean that fewer people will be able to finance them. This whole halo around Elon Musk is going to disappear,” Johnson added, predicting that Tesla will fall to less than $200 this year and around $90 in 2021.
Weather Johnson is right or wrong, only time can tell. What do you guys think about his comments?. Please leave your opinion with us in the comment section. Will Tesla drop below $200 by EOY?.