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Home / Business / Scott Galloway predicts that Tesla has been acquired by a technology company within a year

Scott Galloway predicts that Tesla has been acquired by a technology company within a year



In March, NYU professor Scott Galloway made a bold prediction on South by Southwest: this will be the year Tesla begins to disband.

Two months later, it looks like his claim could come true. Elon Musk electric car maker stocks have fallen more than 35% below $ 200, while Wall Street analysts fear that the underlying demand for vehicles may have disappeared.

Now, Galloway, who has already made the acquisition of Amazon Whole Foods in 2017, is forecasting a Tesla acquisition.

"I think investors are finally fed up," he said in a featured Recode podcast with Kara Swisher on Friday. "My prediction is that Tesla will be under $ 1

00 per share within 12 months, and is likely to be acquired because of its real value there."

Tesla did not immediately respond to a request for a comment.

The big question is by whom

Most automakers do not have enough cash to shell out the tens of billions for Tesla.

"Even though it goes from $ 35bn to $ 17bn," Galloway said, adding that bids could include a premium that keeps the value of the deal between $ 20bn and $ 25bn (always even less than Tesla's current market value of $ 34 billion). There may be a few companies that could buy it: maybe Toyota, maybe Daimler Benz, but that's a bet, the kind of bet on the ranch. Instead, he predicts a tech buyout, like the rumors that have been circulating for years, that Apple once made an offer to Tesla.

"The people who could get the balance are the Technology companies, but they do not want to enter a low-margin business, "Galloway continued." Would Google possibly see the car as a platform for more advertising? "

According to Jeff Bezos, Amazon is also interested in the automotive industry made a significant investment in Rivian, a new company building electric SUVs, and has enough cash to make another purchase ($ 17 billion in its most recently published statement).

"It's a great brand, it's a great product, "Galloway said of Tesla, adding that the four largest American automakers are unlikely to buy it:" They do not have the gel d. "

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