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Why Bank of America Remains Bullish on Tesla Despite Weaker Q2 Profitability
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Tesla Now Forms Part of AI ConversationCurrently, Tesla, Inc. (NASDAQ:TSLA) is not being considered only as an EV manufacturer.
Despite Concerns, BofA Remains OptimisticDespite the concerns about elevated spending, Bank of America believes that investors are looking closely at the earnings specifically and not at the upcoming opportunity.
The Bull Case: Tesla Focuses on Higher-Margin BusinessThe optimistic case doesn’t revolve around the fact that Tesla, Inc. (NASDAQ:TSLA) will sell more cars.
Let’s compare Tesla, Inc. (NASDAQ:TSLA) with Rivian Automotive, Inc. (NASDAQ:RIVN).
Its short interest stands at just 2% of float, compared with 12.39% for Rivian Automotive, Inc. (NASDAQ:RIVN) and a striking 40.30% for Lucid Group, Inc. (NASDAQ:LCID).