Tesla Was Auto Industry’s Best Short in Sept.: S3

Shares of battery-powered vehicle maker Tesla Inc. (TSLA have dropped off this week as another Wall Street firm join the bears.

While remaining upbeat on the electric car market in general, Bernstein analyst Toni Sacconaghi warns investors against “chasing the stock at current levels.” He notes that by the end of this year, the Silicon Valley tech company will have burned through an unprecedented $10.6 billion in cash since its initial public offering (IPO) in 2010. Yet Sacconaghi is less focused on Tesla’s capital spending, drawing more attention to risks facing the launch of its first mass-market model vehicle, the Model 3 sedan.

Read more: Sell Tesla Due to Its $10B Cash Burn: Bernstein | Investopedia https://www.investopedia.com/news/sell-tesla-due-its-10b-cash-burn-bernstein/#ixzz4yyg1LX4F
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