Tesla stock prices have been in the midst of a bear market, and its likely to stay that way for the foreseeable future, according to the New Scientist forecast.
The magazine’s chief technology economist, Chris Moulds, believes that the company will eventually be forced to change its way of doing business, and that Tesla will eventually find itself “in a situation where it can no longer be a very profitable business”.
He predicts that the carmaker will have to “change the way it thinks about the future”.
Tesla is currently in a bear markets phase, and the company is already facing regulatory pressures from US states such as California and Ohio that have imposed hefty fines on the company.
Moulds has been predicting Tesla’s demise for some time, and has predicted the company’s market cap will fall to around $2.6bn by 2021.
It seems likely that Tesla’s stock will drop, and Mould’s prediction will become more and more important as the company goes into the next phase of the bear market.
“The key thing that Tesla is going to have to do now is change the way they think about the way the future looks.
It’s not going to be as easy as you’d think.
Tesla is not going as big as it used to be.
They are not as powerful as they used to think they were.
It will be a lot harder for Tesla to change the future.”