According to the famous financier, company which month is suffering from serious losses.
The well-known trader and investor Jim Chanos in an interview recalled the promises that Tesla gave three years ago. Chanos noted that the company had become profitable by 2017, but year after year it continues to lose money. At the same time on the market of electric vehicles face serious and accomplished competitors.
In an interview with Bloomberg investor Jim Chanos called Tesla a non-profit structure company with over-leveraged. “If you believe and say three years ago, Tesla needs to make a profit now. It has now shifted to 2020. I guess in 2019 we will talk about the year 2025”, — said ironically Chanos.
The trader had previously lashed out at the company Ilona Mask. Chanos known for their rates to decrease, and in the case of Tesla it recommended to do just short sales. He also said that the shares of the company “cult”, and its investors excessive optimists.
Despite this, shares in the company this year increased by 59%, and the capitalization of Tesla at some point avoided GM and Ford.
Although Chanos recognizes that Musk has visionary qualities, and Tesla released the Model S sedan looks attractive, the company still has many flaws. In the development of drone technology, the Tesla has lagged behind its competitors, and the release of the electric car, the Model 3 was a hasty decision in favor of the investors, confident Chanos. The trader also criticized the purchase of the company SolarCity, which is engaged in the manufacture and installation of solar panels. According to Canosa, because of this transaction, the shareholders annually lose about $1 billion.
Another problem with Tesla is the emergence of major competitors on the market of electric vehicles. “Competition has intensified. Entered the market a profitable company with good funding,” — said the expert.
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