Chicken Genius Singapore: More Pain To Come For Tesla

This is an interesting and insightful video from long-term Tesla bull, Chicken Genius Singapore aka Ken, on why he is bearish on the short and mid-term outlook of Tesla and his target price of $140, which is $420 pre-split.

Here are some points that he mentioned that may be worth pondering, especially if you are bullish on Tesla:

1. In one of the worst economic situations currently, consumers will think twice about buying a car, especially a premium car like Tesla. For example, Model Y is 2 times the price of its competitor, BYD Auto 3.

2. Tesla’s backlog is shrinking and there is total demand destruction in China where the waiting time is merely 1 week. The new orders are coming from Europe and China, which are both in very bad economic shape.

3. Tesla prides itself as a company that does not do advertising but they are currently hiring marketers and doing the cold-calling.

4. There are more woes at Giga Berlin as the whole of Europe is facing an energy crisis and energy prices are skyrocketing. This will affect Tesla’s profits because operating costs will increase due to the high energy costs required to operate the factories.

5. Q3 deliveries were below estimates and while Q4 deliveries are likely to be higher, the markets are future looking and will price in future expectations. Thus, it is unlikely that the Q4 delivery numbers will cause the share price to soar.

Watch the full video here:

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