Market Overview

'No One Wants to Build Electric Cars Other Than Tesla,' Says David Booth (TSLA)

Share:
'No One Wants to Build Electric Cars Other Than Tesla,' Says David Booth TSLA
Related TSLA
Chowdhry: Tesla Can 'Easily' Deliver 25,000 Vehicles In Q4, Demand Continues To Outstrip Production
Want Any Mayo? Week Ahead Sandwiched Between Jobs And Fed
Tesla: Into Darkness (Seeking Alpha)

In a National Post article released on Tuesday, David Booth made the argument that most car companies do not actually want to build electric cars, and that Tesla (NASDAQ: TSLA) is alone in pursuing electric vehicles as an actual mode of revenue and profit.

The article outlined multiple reasons companies are building electric vehicles, including using the electric vehicles to counterbalance gas guzzling luxury vehicles and trucks. Companies such as Honda have gone as far as to only lease their electric vehicles, promising to take them back at the end of the lease, and thus taking a massive loss on each one.

Key to the stock's performance, a major lockup expiration is scheduled tomorrow, and looks to be weighing on shares the past few sessions.

Tesla has fallen roughly 11.6 percent over the past five sessions.

Posted-In: David Booth National PostNews Movers Tech Best of Benzinga

 

Related Articles (HMC + TSLA)

View Comments and Join the Discussion!