[Bernstein: The electric car market is mainly driven by new products, Tesla’s market share is losing]
Bernstein analyst Toni Sacconaghi issued a research report and gave Tesla an “underperform” rating with a price target of $450. The analyst said that Tesla has lost some market share in 2021 due to strong market growth.
Also, sales of high-priced products like the Model S and Model X have fallen due to competition and cannibalization from cheaper new Tesla products. He emphasized that it is generally difficult to increase sales of electric vehicle models that have been on the market for more than five years. For Tesla, delaying the launch of new models will be a potential risk.
Earlier, according to SEC filings, Tesla CEO Elon Musk sold about 4.415 million Tesla shares from April 26 to 27, cashing out a total of $3.99 billion. According to Musk, the cash is to complete the acquisition of Twitter.
I don't know how this guy came to this conclusion. Everyone is welcome to give their views, let's talk about whether this is possible?
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