Categories LATEST

NYU professor who predicted Amazon-Whole Foods deal forecasts death of Tesla, 4 others

All hell broke loose during the weekend when Scott Galloway, a professor who teaches marketing at the NYU Stern School of Business and the author of Digital IQ Index, predicted that electric vehicle pioneer Tesla (NASDAQ: TSLA) would vanish, or lose 80% of its value within the next 10 years.

Even as Tesla fanboys expressed their disapproval of this prediction pointing out a large number of variables, Galloway said the Elon Musk-led firm lacks the scale to operate in a low-margin segment. He feels that the company won’t be able to reach a delivery target, where it starts gaining profits.

Will Tesla stock continue to fall on tariff uncertainty
Photo Courtesy: Tesla

Notably, the prediction comes a week after Tesla fell short of market expectations on vehicle deliveries.

Galloway had earlier successfully predicted the merger of Amazon (NASDAQ: AMZN) and Whole Foods, which finally happened in 2017. However, his prior prediction on Tesla, where he said the company would get acquired within 2019 after the stock falls below $100 per share, has not come true.  

READ: Softbank’s hopes are now pinned on this rapid-growth “WeWork-like” unicorn

There are four more companies on Galloway’s death list – WeWork, which recently postponed its IPO over overvaluation concerns, Lyft (NASDAQ: LYFT), which had a lackluster IPO, financial services firm Robinhood and the world’s third-largest hotel chain Oyo.

Further, he listed 10 unicorns as overvalued. These were Pinterest (NYSE: PINS), Snap (NYSE: SNAP), Twitter (NYSE: TWTR), Peloton, Slack (NYSE: WORK), DoorDash, Lime, Palantir, Uber (NYSE: UBER) and Compass (NYSE: CODI).

Apart from being a professor, Galloway is also the founder of business intelligence firm L2 Inc, which was bought by Gartner in 2017.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

CVX Earnings: Chevron reports lower revenue and profit for Q3 2024

Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to

Key highlights from Exxon Mobil Corporation’s (XOM) Q3 2024 earnings results

Exxon Mobil Corporation (NYSE: XOM) reported its third quarter 2024 earnings results today. Total revenues and other income remained relatively flat at $90 billion compared to the same period a

AAPL Earnings: Apple Q4 2024 sales rise 6% YoY, beat estimates

Apple Inc. (NASDAQ: AAPL) reported an increase in revenues for the fourth quarter of 2024. The top line came in above estimates. The gadget giant generated revenues of $94.9 billion

Comments

  1. Pingback: itme.xyz
  2. Pingback: MasumINTL.Com
  3. Pingback: ItMe.Xyz

Comments are closed.

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top