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- Philippe Houchois, a Jeffries analyst, warned that Elon Musk could pose a threat to Tesla on Thursday.
- In an interview with Yahoo Finance, Houchois called Musk the "enemy" within Tesla.
- He is among many investors and analysts who expressed concern about Musk's Twitter focus.
Philippe Houchois, a Jeffries analyst, warned that Elon Musk has become an issue for Tesla.
Houchois stated that he has published research in the past where he said the enemy was inside Tesla. This interview was conducted with Yahoo Finance following the earnings call. "Musk is a tremendous driving force, but he also brings unnecessary risk to the situation."
Houchois expressed concern over Musk's obsession with Twitter during the interview. He did however add that Tesla's January price reductions have made the company more attractive.
The analyst stated that Elon Musk does too many things as an individual. He must self-correct. He is the one who will decide whether SpaceX, Tesla, or Twitter is for him.
Houchois, despite his doubts about Musk, is positive overall about the stock and the demand to buy electric cars. He calls the product "still very appealing."
"I believe that consumers can have reservations about many things. But you will be looking at the product as a consumer and asking: "Is it a product that meets my needs?" Is it reasonable? Houchois said. "And we'll wait to see how the rest the industry reacts to Tesla's actions." It's a very, Very Good Value proposition at the moment."
Insider reached Musk and a Tesla spokesperson but they did not respond to our request for comment before publication.
The stock of Tesla has risen nearly 20% since Wednesday's earnings call. Insider Nora Naughton, an insider, reported that Tesla's billionaire calmed investors during the earnings call. He presented fourth quarter results that were above analysts' expectations and laid out a detailed plan to make the year.
Despite this, Tesla CEO Elon Musk still managed to find time to comment on Twitter during the meeting.
He once boasted about his popularity on the site, in response to a question regarding whether Tesla was keeping track of how its favorability has declined over recent months. YouGov, a UK-based research company published last month the results of a survey showing that Tesla's approval rating has fallen rapidly over the past year to negative territory.
Houchois is among several Wall Street analysts who expressed concern about the effect Musk's obsession with Twitter on Tesla.
Tesla investors are also critical of Musk, as Tesla stock plunged more than 20% since Tesla CEO and founder, Elon Musk, took Twitter private in October. Tesla investor Leo Koguan, a self-described "Elon fanboy", said last month on Twitter that Musk had "abandoned" Tesla and that Tesla needs a new chief executive officer. Koguan also accused Musk of deliberately tanking the stock earlier in the month.
Are you an investor in Tesla? Do you work for Tesla or have insight to share with us? You can reach the reporter by email at gkay@insider.com or via secure messaging app Signal (248-894-6012) or Twitter DM @graceihle Use a non-work device to reach out.
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By: gkay@insider.com (Grace Kay)
Title: Elon Musk is the ‘enemy’ inside Tesla, a top Wall Street analyst warns
Sourced From: www.businessinsider.com/elon-musk-is-enemy-inside-tesla-wall-street-analyst-warns-2023-1
Published Date: Sat, 28 Jan 2023 10:15:00 +0000
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