Why Tesla Bear Gordon Johnson Says Another Stock Split Is 'Highly Likely'

GLJ Research's Gordon Johnson continues to take a bearish stance on Tesla Inc TSLA, but that isn't stopping the stock from moving higher.

Tesla is making new all-time highs again Monday after trading higher during seven of the last eight trading days.

When asked about the possibility of another Tesla stock split Monday, Johnson told the Benzinga newsdesk "it's highly likely."

"That helped push the stock higher, and that is really all that Tesla seems to care about. So, yes, in our view, this is highly likely."

The Context: Tesla announced a 5-for-1 stock split Aug. 31, 2020. Following the stock split, the stock surged more than 12%, closing the day with a market cap of $464.3 billion.

Tesla's market cap is now about $1.12 trillion, according to data from Benzinga Pro.

Johnson has been one of the most outspoken critics of Tesla for a number of years. The GLJ Research analyst has consistently placed price targets on the stock well below those of other analysts.

From Last Year: Tesla Analyst Gordon Johnson: 'I Couldn't Be More Bearish'

Johnson doesn't shy away from publicly touting his bearish outlook and consistent Sell rating. The analyst has repeatedly discussed his bearish Tesla outlook on CNBC and other media outlets.

Johnson has a Sell rating on Tesla with a $67 price target.

TSLA Price Action: Tesla is up 67.83% year-to-date and up more than 195% over a one-year period.

The stock was up 6.42% at $1,185 Monday afternoon.

Photo: courtesy of Tesla.

Market News and Data brought to you by Benzinga APIs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Comments