Tesla's "Reckless" Management Will Lead to Its Demise, Says Short-Seller
*By Michael Teich*
The entire market is in a bubble, according to Mark Spiegel, a short-seller at investment firm Stanphylーand Tesla may be the biggest one of all.
"It's a terrible business," he said in an interview on Cheddar Tuesday. "The financials are terrible and getting worse."
Tesla stock closed below $300 a share on Tuesday, its lowest level since early June. Shares are down 20 percent from their highs of the year. Spiegel thinks it's only a matter of time before the stock really crashes.
There's plenty to rattle investors. The company has burned through $8 billion in cash over the last four years and has more than $10 billion in debt. On Sunday, a report emerged that the company was asking for refunds from suppliers to help it turn a profit, though Tesla said it was only negotiating contracts on projects that were still active. And late Monday, the company said a top sales executive was leaving the company.
Spiegel said the recent string of executive departures is a sign of rising fatigue among insiders. He also said Elon Musk is partially to blame, calling his leadership reckless and describing the CEO as an "incredibly deceptive guy."
"He thinks you have to be as smart as he is to see through his BS. When in fact you don't have to be, you can just fact check."
One potentially problematic area, for SpiegelーTesla's self-driving cars, which he says aren't nearly as safe as CEO Elon Musk would like.
"Their autonomous driving tech is way behind," he added. "What they put on the road ... does more than what other people are willing to put on the road"
Tesla will report its second quarter earnings on August 1.
For full interview, [click here] (https://cms.cheddar.com/videos/VmlkZW8tMjA5NzM=).
Nvidia smashes earnings with record-breaking revenue and soaring Blackwell demand as shares slip this morning, Barron’s senior writer Adam Levine unpacks it all
Jeff Wagoner, CEO of Outrigger Hospitality Group, discusses the company’s coral preservation initiatives and sustainable practices at their hotels and resorts.
Dena Jalbert, Head of M&A at Align Advisory, discusses the state of mergers and acquisitions in 2025 and beyond, highlighting key trends and opportunities.
Kim Perell, author and entrepreneur, shares actionable tips and tricks to help current and aspiring entrepreneurs kick off 2026 with confidence and momentum.
Computer chipmaker Nvidia is poised to release a quarterly earnings report that is expected to either deepen a recent downturn in the stock market or prompt an ebullient sigh of relief among investors increasingly worried the world’s most valuable company is perched upon an artificial intelligence bubble about to burst.
Emera CEO Scott Balfour discusses soaring energy demand, AI-driven grid challenges, clean-power investments, and how the company is building a resilient future.
JB Mackenzie discusses Robinhood’s new entertainment prediction markets, letting users engage with pop culture, award shows, and more through low-stakes bets.
Rhett Power shares his startup journey, lessons from his early years and insights from his book on overcoming negative self-talk to lead with confidence.
Despite inflation, Americans aren’t giving up the gym. Crunch Fitness CEO Jim Rowley discusses strong growth, value-driven expansion and what the future holds.
Home prices far outpacing incomes, low inventory, and higher living costs are reshaping the market. WSJ’s Veronica Dagher breaks down the challenges ahead.
