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Analyst says for the first time ever he is worried about Tesla demand, downgrades stock

October 3, 2019


Tesla’s third-quarter deliveries miss may reveal a more worrying trend, according to JMP Securities.

“The delivery data show low single-digit sequential unit growth, and we know of no operational issues that could have prevented TSLA from delivering more vehicles if demand were available,” JMP Securities analyst Joseph Osha said in a note on Thursday. “To put it another way, yesterday’s announcement was the first time since covering the stock that we found ourselves wondering whether demand growth for TSLA’s cars might be leveling off.”

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