27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Gordon Johnson, CEO of GLJ Research, reconfirmed his bearish outlook on Tesla Inc (NASDAQ:TSLA) Monday on CNBC's "Squawk Box."
The bull thesis for Tesla is falling apart, Johnson said.
Tesla is supposed to be a growth stock, but in the first quarter the company's revenues were down, he said.
Tesla's full-self-driving technology is ranked last by almost every independent assessor, Johnson said, adding that recent consumer reports have "completely eviscerated the safety of Tesla's full-self-drive."
Johnson On Tesla's Valuation: Johnson told CNBC that Tesla is trading at over 1,000 times earnings versus a 12 times earnings average for the rest of the auto industry.
There's significant downside for Tesla's stock from current levels, he said.
Tesla is worth about $67 per share, Johnson said, adding that by the end of 2022 he expects the stock to be trading around his $67 per share target price.
Related Link: Is Now The Time To Buy Stock In Tesla, Palantir Or Nio?
Johnson On Tesla's Competition: Johnson mentioned increasing competition for Tesla, citing the recent release of the F-150 Lightning from Ford Motor Co (NYSE:F).
Ford's Lightning pickup truck has a battery with about 170 kilowatt-hours versus the Tesla Model 3 in the same price range, which has a battery with only 61 kilowatt-hours, he said, adding that Ford appears to have a battery technology advantage.
Related Link: Ford's F-150 Lightning Launch: Morgan Stanley's Key Takeaways
TSLA Price Action: Tesla traded as high as $900.40 and as low as $157 over a 52-week period.
At last check Monday, the stock was up 5.29% at $611.61.
Photo courtesy of Tesla.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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