Research analyst Adam Jonas, a long-time Tesla bull, said it's extremely unlikely that big tech firms like Apple or Amazon would buy it.
He explained, "For risk mitigation and liability containment, they may not want to expose themselves to the unlimited liability of being involved in owning a business where occasionally a car catches on fire, takes down a building, or accidentally kills a pedestrian or passenger, things that happen. The auto industry has an ugly side to it. The roads are very dangerous. There's a lot of stored energy in a vehicle.
He added, "Perhaps those big tech firms don't want to expose themselves to that up front. And moreover they realize the autonomous race is more of a marathon where over a 10- or 20-year period you collect real world miles. There may be other ways to do that besides owning a full-stack, awesome, great auto company."Apart from shooting down the idea of a white knight, Jonas also expressed skepticism about the company's current state.
Finally, Jonas told investors that, given the precedent of Tesla's acquisition of SolarCity, there's a possibility Musk could use his 54% stake in SpaceX, a company that has a post-money valuation of $31.5 billion, to eventually collateralize Tesla.Jonas said near-term, Wall Street is expecting Tesla to deliver just 70,000 vehicles in the second quarter of 2019. While he and Morgan Stanley have a more optimistic estimate of 82,000 vehicles, that still falls short of Tesla guidance.
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