Tesla Inc.’s “Battery Day” failed to satisfy expectations that helped its $320 billion surges in market value.
Elon Musk announced plans for impressive goals that will take time to pull off.
On Tuesday, the chief executive officer presented a plan to build a US$25,000 car and cut the battery cost in half over the next 3 years.
Although the technology and manufacturing development is awe-inspiring, Robert W. Baird’s Ben Kallo said Tesla’s value reflected its ability to disrupt.
“With the Battery Day in the rearview, we think there is a lack of upcoming catalysts and are cautious about demand given the recessionary environment,” Kallo wrote, naming Tesla a bearish “fresh pick.”
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