NEW YORK, NY— Wall Street analysts following Tesla (NASDAQ: TSLA) have recently reported that the company’s stock, which has lost over $7 billion in market value in just one week of trading, could go either up or down from current trading levels.
Evercore senior equity research analyst Victor Escobedo II has been tracking the company since 2014, and provided Business Outsider exclusive insight on what this trend means for Tesla investors. “This is just classic Tesla. If you take an objective look at all of the facts about this company- whether it be the accelerating sales growth rate, questionable production efficiencies, and various measures of profitability, it’s clear that the stock will either go up or down from the current price based on these key metrics,” said Escobedo confidently while sipping his six-dollar mocha. “If you apply the right framework to the problem, I am confident that you will come to a similar, if not the exact same solution that I have come to,” he continued.
A frustrated investor in Tesla and Evercore client asked Escobedo how he could afford be so ambiguous with his answer, and Escobedo quickly put the issue to bed. “Look, I can’t tell you whether or not the stock will specifically go up or down tomorrow, and quite frankly anyone that claims to know which way the stock will go is lying to you. Could I tell you confidently whether or not the stock will go to zero or 10 times its value over a 5-year period? The answer to that question, of course, would also be ‘no’.”