Danny Moses, an investor known as the “Big Short”, said Tesla’s stock price could still fall significantly in the future. Moses remains short on Tesla even though the electric car maker’s shares are down 32% year to date. “Everything is falling apart in their core business,” the Moses Ventures founder told CNBC’s “Fast Money” on Thursday. “He showed everyone robo-taxi, artificial intelligence and automation,” he added. Referring to CEO Elon Musk. Moses cited Musk’s decision to cut more than 10% of the company’s global workforce, recent Reuters reports on Tesla securities and wire fraud investigations and uncertainty surrounding robotaxis as downside risks. The unveiling of the robotaxi is scheduled for August 8. To me, that seems like a reasonable valuation,” he said. Tesla closed down 2% on Friday at $168.47. Moses, known for his successful bets on the housing market before the 2008 housing crash, also shorted Tesla by $50 last November. He calls Tesla his first shortcoming. “This is really becoming a ‘show me’ story as far as the car companies are concerned, and I think over time people are going to start to lose patience with the future of this company,” he said on “Fast Money.” “November. Moses expects self-driving company Wayve to become a strong competitor to Tesla. “They are now using self-driving technology to drive in cities,” he said. Wayve announced last week it had raised more than $1 billion to develop self-driving products. Major investors include Nvidia, Microsoft and SoftBank. Moses also holds shares in Wayve through venture capital funds. “I don’t think people are paying enough attention to this,” Moses said. Tesla shares fell 7% last week. CNBC’s Anna Gleason contributed to this article.Disclaimer
