'They're Nowhere Near Being Robotaxis': Bearish Tesla Analyst Says Musk Is Promoting 'Smoke And Mirrors,' Stock Is Overvalued
'They're Nowhere Near Being Robotaxis': Bearish Tesla Analyst Says Musk Is Promoting 'Smoke And Mirrors,' Stock Is Overvalued
Gordon Johnson, the founder of GJC Research, joined Benzinga's PreMarket Prep Friday morning to discuss Tesla Inc (NASDAQ:TSLA) amid the company's recent share-price rally, with the electric vehicle giant adding more than 40% in market value in the last month. Johnson outlined his bearish thesis on Tesla, and why he believes the stock is overvalued.
方正证券（GJC Research）的创始人高登·约翰逊周五上午加入Benzinga的PreMarket Prep节目，讨论特斯拉（NASDAQ：TSLA）公司，在过去一个月的时间里这家电动汽车公司市值增加了40%以上的情况下，特斯拉公司的股价最近的上涨情况。约翰逊概述了他对特斯拉的看淡主题以及为什么他认为该股票被高估的论点。
Here are Johnson's reasons for why he believes Tesla's share price will eventually fall below $30 a share.
以下是约翰逊认为特斯拉股价最终将跌至每股30美元以下的原因。
Declining Margins: Johnson pointed out on PreMarket Prep that Tesla's margins are declining and that growth in car sales has declined, and that while Tesla does have other potential revenue streams on the horizon, the company still makes the vast majority of its income through selling cars.
利润率下降：约翰逊在PreMarket Prep上指出，特斯拉的利润率正在下降，汽车销量增长也在下降，尽管特斯拉在未来有其他潜在的收入来源，但该公司仍然通过销售汽车大部分收入。
"Effectively with Tesla, what you have is a company that I think that [Elon] Musk is promoting a lot of smoke and mirrors to hide the fact that he owns a car company with declining margins that has basically went ex growth," Johnson said.
“简而言之，特斯拉是一家持续经营利润率下降和增长性逐渐降低的公司。他（埃隆·马斯克）正在进行大规模宣传，以掩盖事实：特斯拉是一家衰退的汽车公司。” 约翰逊说。
Tesla reported lower revenue in Q1 of 2024 compared to its revenue in the same period last year, according to Benzinga Pro.
根据Benzinga Pro的报道，特斯拉在2024年第一季度的营业收入比去年同期下降。
Read Also: Tesla Hints Cybertruck Was Most Sold EV Truck In US In Q2, But Elon Musk's Company Has Not Released Data To Back It Up
阅读更多：特斯拉暗示Cybertruck是美国第二季度最畅销的电动卡车，但伊隆·马斯克的公司尚未公布支持此说法的数据。
The Problem With Robotaxis: Johnson also outlined a bearish thesis regarding Tesla's robotaxi business. He argued that while other companies, like Alphabet Inc-backed (NASDAQ:GOOG) (NASDAQ:GOOGL) Waymo, have operational robotaxis on the road, Tesla lacks lidar technology that makes robotaxis or true full-self driving feasible.
机器人出租车的问题：约翰逊还就特斯拉的机器人出租车业务提出了看淡主题。他认为，尽管像Alphabet Inc（NASDAQ: GOOG）（NASDAQ: GOOGL）支持的Waymo这样的其他公司已经在进行机器人出租车的业务，但特斯拉缺乏可以使机器人出租车或真正的全自动驾驶变得可行的激光雷达技术。
"If you simply go on YouTube and look at videos, you'll see that with these [Tesla] robotaxis literally they're driving around and within an hour without human intervention, these things would be crashing... they're nowhere near being robotaxis despite the fact that's what everyone calls them because Musk calls them that."
“如果你简单地进入YouTube并观看视频，你会看到这些（特斯拉）机器人出租车在开车，经过不到一个小时的无人干预，这些东西就会崩溃……他们离机器人出租车的距离还很远，尽管所有人都称之为机器人出租车，因为马斯克这样称呼他们。”
Click here to watch Johnson's full interview on Benzinga's PreMarket Prep.
点击这里观看约翰逊在Benzinga的PreMarket Prep上的完整采访。
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Photo: Benzinga
照片：财经新闻网