Short-seller Mark Spiegel said he believes Tesla will suffer from new competition in the electric-car market.
The noted skeptic of the electric-car maker reiterated his bearish stance on the company saying his speech "almost seems redundant" after Musk's bizarre conference call performance last night.
"Tesla is still a zero," he said at the Kase Learning: The Art, Pain and Opportunity of Short Selling conference in New York. "Tesla's financials are horrible and worsening even before massive competition coming later this year … [The company has] no moat of any kind."
Spiegel noted Tesla's losses are still rising even as it sells more cars and after 15 years as a company.