Tesla's 'most ardent believers' will soon realize that the company 'is not a viable business,' said EdMcCabe of Highbridge Capital Managemen.
most bearish analysts is doubling down on his $0 valuation in the wake of InsideEV's latest delivery estimate for the company.
"That story is clearly over," Ed McCabe of Highbridge Capital Management said of those who say Tesla is a growth company to justify losses and slowing growth.Visit Business Insider's homepage for more storiesTesla's estimated deliveries for the month of August have the company's most bearish of Wall Street analysts on the edge of their seat as the end of the quarter approaches.
"Remember that the staggering losses and cash burn have occurred while Tesla has had the electric vehicle market essentially to itself and Musk has promised imminent and sustainable profits and cash flow generation multiple times," he said. "Back-to-back quarters of negative revenue growth, increasing losses, and cash burn will make plain to even the most ardent believers that Tesla is not a viable business."
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