Tesla will disappoint investors despite better-than-expected Q2 deliveries: Wells Fargo's Langan

Colin Langan, Wells Fargo Securities Sr. Equity Analyst, joins 'Closing Bell Overtime' to talk what's ahead for Tesla as he lays out his bear case for the EV maker. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/42d859g
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[@TheilliterateLibrarian]

Hes shorting telsa😂 and is losing money

[@JohnPMiller]

I'm fine with Colin personally shorting TSLA. I feel bad for Wells Fargo and investors who watch this video and think the stock will drop nearly 50% by end 2024. Don't short any stock ever. There are plenty of good companies available, even if you don't like Tesla.

[@TimesNewRoumen]

He can short anything. Even his wife but it’s weird they call themselves analysts. They are sometimes more like ANALysts in some ass sort of business.

[@skyak4493]

Profesional analysts are prohibited from owning positions it the securities they cover! Somebody certainly shorted for this delivery number and didn’t get what they wanted.

[@Dr.Weed8]

@@TheilliterateLibrarian He’s going to get the short squeeze. He should have known Tesla share holders don’t care about money.

[@Dr.Weed8]

@@skyak4493 that’s not true. They’re supposed to disclose but that can be through an sec filling. It also depends on if they have insider information or not. If they don’t they don’t have to disclose anything.

[@typhoon320i]

How big is your firms short position?

[@Dr.Weed8]

300mm

[@DrwilliamsBenjaminJackson]

TELEGRAM

[@DrwilliamsBenjaminJackson]

@ISLAJU4 That's his user name

[@dvoglavaazdaja]

That guy should smoke diesel 1 hour

[@DrwilliamsBenjaminJackson]

TELEGRAM

[@DrwilliamsBenjaminJackson]

@ISLAJU4 That's his user name

[@traviswes7082]

It was stupid of me to sell $76,000 worth of TSLA stocks without reinvesting. I might turn to cash soon if I don't. Any particulars? (Buying bonds or CDs is not for me).

[@Patriciacraig599]

With the uncertainties that is experienced in this current recessive economy, It’s important to consult with a financial advisor before making major inveestment decisions.

[@tommychestnut5335]

You're right, I and a few work colleagues work with a CFA who prefers we DCA instead of a lump sum purchase, Following this, my portfolio grew 40% in the last quarter. I wouldn't have known this awesome strategy had I continued investing by myself.

[@instinctively_awesome8283]

nice! once you hit a big milestone, the next comes easier.. who is your Advsor please, if you don't mind me asking?

[@tommychestnut5335]

Kathleen Cheryl Constantz is who I work with and she is a hot topic even within the finance elite . Just browse, you’d find her webpage.

[@PhilipMurray251]

I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.

[@ritenaow1]

This interview panel reminds of dumb & dumber… which one of these is the dumbest is the question

[@JoeS97756]

Tesla investors for sure.

[@ritenaow1]

@@JoeS97756 tesla shorts for sure! Their $$ is always welcomed in this community

[@syspowertools3372]

Funny listening to this while my car flawlessly executes a series of roundabouts in heavy traffic. In a city with no "HD maps", ultrasonics, or li-dar. Did anyone notice energy storage increased in sales 2.3x? Those margins are only 27%

[@ParsaMoshiri]

This dude misses the forest for trees

[@syspowertools3372]

Bro misses the trees too.

[@DrwilliamsBenjaminJackson]

TELEGRAM

[@DrwilliamsBenjaminJackson]

@ISLAJU4 That's his user name

[@musiccreation1198]

Wow...how do these guys have a job as an analyst? Tesla is a car company. An energy company. A robotics & AI company. FSD taxis. Colin...get a clue.

[@rickhammond2473]

A tech company and a 21st Century Innovation company.

[@keithjames1802]

Colin sounds smart. His track record says otherwise.

[@StormyDog]

Colin Langen is rated 8564th out of 8922 Wall Steet analysts. Bottom of the barrel.

[@jmaycock]

Reference please

[@qball66]

Tipranks

[@luislu8615]

He's also #33,002 out of 38,251 experts, bottom left quadrant.

[@SertacErbay]

He competes with Gordon Johnson von GLJ "research" 😂😂😂

[@avlandscaping8592]

Yur giving him too much credit

[@Owenra]

I already own shares of TSLA, NVDA and APPL as well. Sure, I don't mind having these equities sit around for a while, but I'd also like to appreciate short-term opportunities that could fetch $200,000 or less..

[@Jamesjerome0]

If you need advice on short-term investments, consider speaking with a financial advisor. They have a lot more knowledge and expertise in this area.

[@AmithKaury]

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

[@Kaustavpatell]

I actually subscribed for a few trading courses but it didn't help much, been getting suggestions to use a proper financial advisor, how did you go about touching base with your coach?

[@AmithKaury]

SUNITA SUZANNE BYG is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@Kaustavpatell]

I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you

[@free-qe6wx]

Imagine believing that a YOY drop in production and deliveries is actually good news.

[@JoeS97756]

the fanbois are clueless.

[@wisemanofsorts6068]

I think a big reason for the jump is the massive beat on energy.

[@JoeS97756]

@@wisemanofsorts6068 hard to draw any conclusions from that since Megapack revenue recognition is very lumpy. It's a 25% gross margin business and 10% of total revenue, nothing to write home about.

[@asjeot]

No mention of the growth of Tesla Energy?

[@annihilationHaven]

They never mention it in any detail because it's a military operation.

[@SMTraz]

Dude losing a lot of money on his short. LOL!

[@Sonder2030]

For all Tesla investors why Tesla instead of Nvidia or Microsoft? They seem to be more stable and in Nvidia’s case growing massively and not slowing down.

[@opencase9903]

Tesla is working on solving some of the world's hardest problems - self driving vehicles, robots, and energy storage. This is far more ambitious that Nvidia making chips or Microsoft using OpenAI's tech to provide a copilot. We're betting on a Tesla putting out revolutionary products which other companies can't even come close to providing. Once this happens profits WILL roll in.

[@Sonder2030]

@@opencase9903 how long would you say it takes them to monetize profitably outside of vehicle sales?

[@mikev4373]

@@opencase9903lol

[@bad209]

Tesla is also makes it own chip 😂. Which car company makes it own chips. ​@opencase9903

[@SMONclips]

​@opencase9903 just wanted to comment to let you know, Tesla FSD actually uses NVIDIA Chips. Tesla relies heavily on Nvidia chips for their AI. There are many great companies, there doesn't have to be only 1. Both Tesla and Nvidia can be great. The world's largest companies are in line for Nvidias chips.

[@patriceblakeway4421]

Strongly disagree with the analyst and the panel. Cyber Truck is ramping quickly, 4680 batteries are ramping quickly, Energy storage is ramping quickly, progress on FSD is steady and quickening (additional sensors beyound vision is not needed, if it gets very foggy everyone should pull over including FSD). I trust Ron Barron, much more than Wells Fargo>

[@bolo34lx]

Cyber Truck needs a ramp to take all the non-functional trucks back to the factory.

[@chasbeggs3366]

43 % of car cost is batteries. Battery costs are dropping like a stone. Costs going down have NOT been considered.

[@annihilationHaven]

What good is that if the end user still has to pay the same price? Plus you have more and more people like me who would never buy a car that runs on batteries because of all the inconveniences.

[@mikev4373]

The Elmo cult cracks me up. This guy is telling the truth but the bagholders can’t handle it.

[@gottafly2day]

Shows how little you know about Tesla. I am very happily retired because of Tesla's performance.

[@NikhilImmadi-bp8mk]

I Always check your videos for updates! Our government has no idea how people are suffering these days. I think disabled people don't get the help they deserve. Thank you Mrs Anastacia Snelleksz, imagine you invested $500 and earned $2,500.

[@NikhilImmadi-bp8mk]

she's mostly on Telegrams, with the user name.

[@NikhilImmadi-bp8mk]

@Anastacia424 👈💯

[@NikhilImmadi-bp8mk]

@Anastacia424 This is it👆👆

[@donpeartlee6932]

He has fear in his eyes.

[@JitenderPathak-]

1 will be forever grateful to you, you changed my entire life and I will continue to preach in your name for the whole world to hear that you saved me from a huge financial debt with just a small investment, thank you mrs Anastacia Snelleksz .

[@JitenderPathak-]

she's mostly on Telegrams, with the user name.

[@JitenderPathak-]

@Anastacia424 👈💯

[@JitenderPathak-]

@Anastacia424 This is it👆👆

[@dashawnsmith6010]

Energy up 130% quarter over quarter how is it only a car company

[@DrwilliamsBenjaminJackson]

TELEGRAM

[@DrwilliamsBenjaminJackson]

@ISLAJU4 That's his user name

[@qsteezy8149]

Awful analysis . Didn't once mention they are the world's largest renewable energy storage company . Same guy probs said Netflix would be trash when blockbuster didnt buy them .

[@skyak4493]

I can’t beleive they didn’t talk storage. Car deliveries were still down significantly YOY. Storage more than doubled! Where the hell did that come from? All these analysts, and I never heard anyone suggest tesla had that capacity! Is it just an order spike? Or a big contract finally being booked?

[@PandaOfRegret]

This bear about to go into his cave for the long hibernation

[@kjbmann]

Not ONE Mention of the 80% Growth in the Energy / Battery packs - I wish they'd get analysts on that actually know & understand the Company better.

[@ericjung02]

How can Colin Langan keep his job when he repeats making wrong predictions everytime?

[@DrwilliamsBenjaminJackson]

TELEGRAM

[@DrwilliamsBenjaminJackson]

@ISLAJU4 That's his user name

[@hoochill]

when an analyst is bearish doesn't always mean they are shorting

[@skyak4493]

It never means they are shorting because they are prohibited from having any position in companies they cover.

[@DrwilliamsBenjaminJackson]

TELEGRAM

[@DrwilliamsBenjaminJackson]

@ISLAJU4 That's his user name

[@phenry13845]

@@skyak4493 But they do provide recommendations.

[@kerr1515]

The FSD is far better than I ever thought. I took it on the ultimate test and it was flawless. PHL to Long Island. Not a tougher driving test in the USA. I now know what Elon means when he says FSD is 100 times smarter and safer than any human could ever be. Try it ASAP. I was blown away. The only thing it couldn’t do was navigate through a NYC Toll Plaza. Don’t listen to the media.

[@danielscott1409]

Human beings can't see in the fog either

[@DrwilliamsBenjaminJackson]

TELEGRAM

[@DrwilliamsBenjaminJackson]

@ISLAJU4 That's his user name

[@PrakashKalimuthu-qe8gh]

After so many struggles I now have a new house, and my family is happy once again. Everything is finally falling into place Thank you Mrs Anastacia Snelleksz!!!

[@PrakashKalimuthu-qe8gh]

she's mostly on Telegrams, with the user name.

[@PrakashKalimuthu-qe8gh]

@Anastacia424 👈💯

[@PrakashKalimuthu-qe8gh]

@Anastacia424 This is it👆👆

[@paulgilliland2992]

Interesting negative comments regarding Tesla . One thing I’ve learned shorting the stock over recent years is you’ll get your face ripped . It’s very difficult even though I’m not a fan and I’d probably not buy an EV and electricity is super expensive in California .

[@JohnPMiller]

I've never understood why people would bet against companies when there are so many good companies to invest in.

[@brucesillince2202]

What’s worse than a short seller with a crystal ball paying out on Tesla? Two shorts with a crystal ball paying out on Tesla. Burn baby burn 💸

[@KingPfeiffer]

I have two models Y and have been a fan for a long time , but what he is saying is true. China can make the car for 1/3 of the price and sell under 30k with 0 incentives. Shoot even 20k. FSD adoption is low because it’s not 100% reliable. I was able to drive across the entire US with FSD. At the end of my journey, it was unable to determine a curve and ran over a stop sign causing me to replace my passage side door. I don’t think everyone who believes in this has truly lived with it. For now it’s going to be a sell for me to, FSD needs to be without drivers assistance to have any value imo.

[@JamesMullarneyIsAFraud]

lol - so much Musk cult in these comments.

[@gottafly2day]

If being able to comfortably retire off of TSLA stock investments makes me a cult member then I'll proudly wear that badge. How did your investments go over the last 5 years? Tell me, where did Elon touch you?

[@Pam-w3p]

Is it a bluff? What about the batteries that have to be replaced if and when water gets into them?

[@dknc7393]

There's a reason why they all sit there talking speculative personal opinions based on their 'experts'.

[@Judge247]

I do enjoy watching these high strung lemmings bet against Musk’s long game. The moonwalking and deep denial are just the bacon bits on that failure salad…

[@BigBTC888]

All of your guests are doing a deservice to the financial industry as a whole to manipulate the stock and not just Tesla but all companies that are mentioned.

[@Retired.at.40.Bored.at.50]

The government should have never offered incentives. It conditions the consumer to wait. Instead of buying when you're ready, you hesitate for fear of missing out on government grants. You do not have a free market because it is artificial demand. This happens in every industry and in every country.

[@wwrussell180]

That guy is in one the least best analysts on Wall Street. His record is TERRIBLE. Literally. He ranks as analyst number 32,893 out of 38,248 or the bottom 15% (just like Joe Biden ranked in his law school class). His annual return is a negative 7.10%. How is it that he gets on CNBC when he should be fired from Wells Fargo and booted from the profession? Why does CNBC continue to give voice to some of the worst analysts on the Street? Do they want their viewers to lose money? Seems counterproductive, doesn’t it? Maybe we should all stop watching CNBC until they start bringing on more smart analysts instead of losers like Colin Langan.

[@JoeS97756]

If you can't debate the subject resort to personal attacks. weak.

[@annihilationHaven]

He's on because he knows his stuff. The only mistake I heard here was that he thinks Chinese EV's are good. They're going to be bought because they're cheap, not because they're good. That's another 10B decrease in revenue for Tesla.

[@wwrussell180]

@JoeS97756 I didn't resort to a personal attack. I stated facts regarding where he ranks as an analyst. If you have confidence in his analysis, follow his advice. That would be pretty dumb but, based on your reply, right up your alley.

[@wwrussell180]

@@annihilationHaven Does he? Then why are his results so poor? Look him up for yourself.

[@wisemanofsorts6068]

It moved because energy beat. Yet they didn't discuss energy at all.

[@dubdub2675]

Doomer analysis. It will "probably" fail, it "probably" won't work, it "probably" will fail. Nah I'll invest in Elon instead.

[@skyak4493]

It has failed, it is still failing seven years after the first claim, and Elon will take his $57B and be on Mars when you get a clue.

[@Wankidy]

Yep. Tesla is the only company with financial incentives, and there is no EV demand. 😂😂😂

[@dewberry3043]

Another will not age well video.

[@PL8tektonix]

Langdon is grasping at straws when he says the Chinese might be ahead in FSD. The only way to get to viable FSD is with an end to end neural net. And, Tesla is the only company with the training data to accomplish this.

[@mischievousmaster]

Could it be more obvious?. How burned are you wells Fargo?

[@DrwilliamsBenjaminJackson]

TELEGRAM

[@DrwilliamsBenjaminJackson]

@ISLAJU4 That's his user name

[@Wongseifu548]

Lol wels must have a huge short position for them to double down

[@bad209]

The chinese are coming but look how much better Ford and gm are. Tesla is terrible. Lol, is this guy hearing himself😂. His only job is to sandbag tesla on behalf of gm and Ford, and he is failing badly.

[@luislu8615]

Saying BYD is the EV technology leader, meaning this Colin Langan guy has never driven a BYD nor Tesla car before. Anyone who experienced both cars should be able to tell the significant advantage Tesla car has over BYD purely from the vehicle hardware and efficiency perspective, let alone software/FSD capability. How can this guy still have a job?

[@MrKaneshiro1966]

Such a short sighted person. I hope you can come back and admit r wrong!

[@lukehan451]

As much as u may think this guy is a clown we'll be popping bubbly in Shanghai my ninjas

[@polybius23]

It is so amazing. When TESLA is on an epic run (like right now), the haters still can't stop spreading doom and gloom and FUD. Aren't you shorts getting tired of eating your shorts?

[@DolphinAnalyticsAI]

HIlarius ... I was waiting for somebody to pull the power from that mindless robot. He has a Vision capacity of about 1 Quarter.

[@keimo2007]

Lots of upside left given the fact that there are still many vocal bears out there!

[@RZH2023]

We need all these bears. Since his down grade, see what TSLA stock has done! Thanks 🙏

[@Lovingkindness.]

How can he talk like that and not start laughing at himself? 😂

[@IshitaSaxena-du5lk]

Hit 200k today. Thank you Mr Basant for the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last month 2024

[@IshitaSaxena-du5lk]

she's mostly on Telegrams, with the user name.

[@IshitaSaxena-du5lk]

@Anastacia424 👈💯

[@IshitaSaxena-du5lk]

@Anastacia424 This is it👆👆

[@crispyduck1706]

Bet he is fun at parties - imagine watching one of the greatest companies ever go up and up and not understanding the bigger picture - fool

[@PS-vc2yz]

Tesla bears all call Tesla a car company. They are a technology company

[@DrwilliamsBenjaminJackson]

TELEGRAM

[@DrwilliamsBenjaminJackson]

@ISLAJU4 That's his user name

[@siddharthadatta]

Tesla is really disappointing them by spiking from 140 to 230 😀

[@kaikhosrow]

solid analysis bro read the haters comments in 2 months cause then you can laugh at them

[@lukasfoo]

This analyst ought to be fired. Everthing he said will be proven wrong.

[@metgodinwilderness7130]

May be soon out of job for this dude

[@andrerodriguez7603]

If BYD is the leader and other Chinese EV makers. Why are they coping Tesla Model Y, and Model 3. Using Tesla as a blue print to make their cars. Short much? 😂

[@skyak4493]

Copy? BYD products are nothing like Tesla.

[@gottafly2day]

Tesla is crushing BYD when it comes to net revenue. BYD sells "mostly" cheap cars. They are counting car sales not revenue.

[@skyak4493]

@@gottafly2day Tesla cars are more expensive which makes it far easier to have high margins. Tesla also has a small number of models. In all, tesla has a very efficient high volume production system. They are essentially maxed out on economies of scale. That said, tesla doesn’t have the product or capability to compete with BYD. In a couple years BYD will move up market as an overwhelming large competitor.

[@acs2777]

You will grow from the energy side from now on

[@micheal6901]

Be bullish about American products

[@DrwilliamsBenjaminJackson]

TELEGRAM

[@DrwilliamsBenjaminJackson]

@ISLAJU4 That's his user name

[@markdc1145]

This guy is hopelessly clueless. CNBC can do better than to invite such clowns on.

[@LB-fish]

this is a traditional dumb analyst , they are so out dated now 😅

[@cryptopunk888]

must be very painful of these people shorting tesla. Where is the catalyst? 3 new cars will be launched at 8/8. One of the cars will be the model 2/25k car, that is estimated to be 5 million units annually. so car business growing again in 2025. energy business growing at over 100% vs prior quarter. the energy division might contribute $1 billion cash flow to Tesla per quarter. Robotaxi launch on 8/8. Optimus launch in 2025. Where is the growth catalyst? LOL

[@user-xr6zm8cx6r]

Here is the Cathlhie woods clear winner😂

[@RZH2023]

TSLA has never disappointed if you are taking 5 to 10 years approach. TSLA has made me more 10x last years and I expected more next 10 years.

[@ericsmoove2165]

stop lying its didnt break over 1k a share. plus TESLA dont have dividends either.

[@RZH2023]

@@ericsmoove2165 wow, we are seeing a distressed and disturbing TSLA bear

[@martinmorris1197]

I hate the price cuts

[@syspowertools3372]

Think of it like this. Google makes android OS free, because revenue from apps and software services is where the money is really made. Microsoft and Sony sell consoles at a loss, the profit is all from game sales. But if Margins is what you care about, Megapack is up 2.3X in a year and has 27% margins.

[@mikespence8895]

What about energy? Helloooo. Up 157% yoy.

[@scottrankine2674]

This won’t age well. Typical short seller spin. Poor example of analysis

[@wesleychapman9001]

Don't catch a falling knife, and don't short a runaway train.

[@thomassimmons2771]

🤣

[@DrwilliamsBenjaminJackson]

TELEGRAM

[@DrwilliamsBenjaminJackson]

@ISLAJU4 That's his user name

[@prash269]

Cnbc dumbs all in one frame

[@shoeorfood]

Keep shorting it bro, I can care less what you think

[@stevemelton4388]

A lot of Tesla stock holders writing opinions

[@mmercato7174]

He is almost crying...

[@dabrain22video]

wells fargo no clue its not an auto company thats not even what matters maybe in 3-5 years you will learn what is going on.

[@LosoD07]

He sounds nervous 😅

[@rizwan4794]

Yeah sure missed the run.

[@blockvibez284]

ive been shorting wells fargo soooo...

[@azntoogood]

This guy is so bearish

[@DrwilliamsBenjaminJackson]

TELEGRAM

[@DrwilliamsBenjaminJackson]

@ISLAJU4 That's his user name

[@pcmountaindog]

Musk builds an industrial are giant, he puts more payloads into space then even governments at 10 cents on the dollar, providing satellite internet to the the worlds remote places. Then we have the nerd who couldn't estimate how many hot dogs Costco will sell.

[@helenhkoh]

Not sure why I am watching this….

[@renataskairevicius8397]

For me its a mistery how americans hate on one of the most american companies. Chimese has good products bla bla bla. Even chinese agree on how far ahead tesla is

[@kingramseyii3686]

Uber here to stay

[@1tunaep2]

Any body know how much Chinese works get paid an hour to pump out their cars?

[@syspowertools3372]

Not per hour, but arround 37k/year, plus options, free meals, and subsidized houses. That said, Tesla doesnt sell Chinese made cars to the North American market. Tesla makes them locally for each region. Giga-Berlin for Europe (not including UK) Texas and Fremont for the America's and UK. Shanghai for Asia and Australia.

[@alasgar]

So much hate towards the most American Car Company. This Wells Faro’s Langan has neither driven Tesla nor BYD car, but he brags about a Chinese Crap over the most American Car without having the actual experience- You can see the Hate and BS these people have towards Tesla and Elon. Dude, Langan, please go and drive Tesla and then we can talk. 10-15 years ago you did not believe that Tesla is a car. How much have you costed Wells Fargo for not owning Tesla Stock LOL- I would have Fired you long time ago!

[@paulakass1269]

Tesla bears is getting boring !

[@erikowren7894]

He is angry

[@danielscott1409]

Byd don't have the data on US roads

[@DrwilliamsBenjaminJackson]

TELEGRAM

[@DrwilliamsBenjaminJackson]

@ISLAJU4 That's his user name

[@LudicrousModel3]

Round two of 2020 style rip your face off rally

[@qball66]

keep shorting...hahaha

[@agoge365]

Tool….. nothing more …… nothing less.

[@rickhammond2473]

Just another clown that does not understand the EV sector.

[@mygic183]

Wells Fargo as a joke

[@francoislemoine8840]

tesla is up 35% since feb... tesla is not a pure car player; you got robotaxis; FSD; AI, robots; and energy; got to be blind to compare that with a traditional car company

[@JoeS97756]

Umm, no we don't have robotaxis, AI, or robots. These are all pipe dreams. Remember when FSD was supposed to drive across the country without intervention. I think this was promised for 5 years ago.

[@shawnp.2084]

What a clown