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Axiom's Gordon Johnson Gives Eight Reasons Why Tesla's SolarCity Offer Makes 'No Sense'

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Axiom Capital's Gordon Johnson appeared on Benzinga's PreMarket Prep morning radio show Friday. He made what most people would consider some rather concerning comments related to Tesla Motors Inc (NASDAQ: TSLA)'s proposed offer for SolarCity Corp (NASDAQ: SCTY).

Below is a recap of all the comments Johnson made on the topic. The comments appeared first, in real time, on the Benzinga Pro breaking news platform.

  • Axiom's Gordon Johnson on Benzinga's PreMarket Prep Says Tesla/SolarCity Deal 'Makes No Sense'
  • Axiom's Johnson Says He Talked with SolarCity Two Months Ago and Asked If a Deal is Possible, Mgmt Replied 'No'
  • Axiom's Johnson Says SolarCity 'is Tumbling Toward What We Think Could Be a Liquidity Event'
  • Axiom's Johnson Says Potential SolarCity Liquidity Event 'Would Be a Black Eye for Elon Musk and Could Potentially Limit His Ability to Raise the Billions He Needs for Tesla'
  • Axiom's Johnson on Tesla/SolarCity Deal: There Are Synergies, 'But We See This Deal as Very Non Sensical'
  • Axiom's Johnson Discussing Recent Musk Comments About Expansion of Green/Solar Customer Base: Questions 'How Many of [Those Customers] Are Already Fluent in Green Energy, Already Have a Solar System...'
  • Axiom's Johnson, Commenting on Musk's Assumption of an Expanded Green User Base, Says 'We'd Be Surprised If Customer Base was 10K. This Idea [a SolarCity/Tesla] Deal Would Create New Customer Base is Fictitious'
  • Axiom's Johnson Says Tesla 'Will Have to Learn to Sell a Whole Bunch of New Things' If SolarCity Deal Goes Through, Means Costs Will Go Up If Combination Happens

SolarCity shares last traded at $23.74, down about 0.8 percent from Thursday afternoon's close. Shares of Tesla, impacted in extended-hours trading by late-Thursday news of an NHTSA investigation into a fatal autopilot crash, have traded up about a quarter of a percent to $212.56.

Benzinga's PreMarket Prep show runs every weekend, Monday through Friday, starting at 8 a.m. EDT and ending around 9:30 a.m. EDT. To listen to the clip of Johnson's comments from Friday morning, scroll down.

Latest Ratings for TSLA

DateFirmActionFromTo
Jan 2017GuggenheimInitiates Coverage OnBuy
Oct 2016Goldman SachsMaintainsNeutral
Oct 2016Goldman SachsDowngradesBuyNeutral

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