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‘Looks weird… like, really weird’: Wall Street isn’t sold on Tesla’s new Cybertruck design. Here’s what 7 analysts think about the electric pickup.

FREDERIC J. BROWN/AFP via Getty Images
  • Tesla unveiled its Cybertruck on Thursday in a live event where its design leader accidentally broke two of the car’s windows.
  • Many Wall Street analysts think the truck’s strange design could harm the car’s performance.
  • Credit Suisse said Tesla’s rivals Ford and General Motors could “breathe a sigh of relief.”
  • Others said it would be a niche offering, similar to the Hummer.
  • Here’s what seven analysts said about the Tesla Cybertruck.
  • Watch Tesla trade live on Markets Insider.

Wall Street analysts aren’t buying the futuristic design of Tesla’s new electric pickup truck, called the Cybertruck, announced in a live event on Thursday.

“Tesla’s Cybertruck looks weird… like, really weird,” Toni Sacconaghi of Bernstein wrote in a Friday note. “Add a little bit of dirt, and you could even say it gives off a retro-future vibe a la Mad Max.”

The strange design, inspired in part by the movie “Blade Runner,” is likely to affect how people view the truck and if they ultimately decide to buy, analysts said.

“We do not see this vehicle in its current form being a success,” Jeffrey Osborne of Cowen wrote in a note on Friday, adding that he doesn’t see the Tesla brand or the Cybertruck design “resonating with existing pickup truck owners.”

That means that General Motors and Ford, Tesla’s main competitors in the pickup market, can “breathe a sigh of relief,” wrote Dan Levy of Credit Suisse.

To make matters worse, the live unveiling of the Cybertruck didn’t exactly go as planned. Tesla’s lead designer, Franz von Holzhausen, accidentally broke the truck’s “armor glass” windows with a metal ball during a demonstration.

That “was not a good start,” Emmanuel Rosner of Deutsche Bank wrote in a Friday note. Tesla shares fell as much as 7% the day after the event.

Still, the Cybertruck’s design wasn’t unanimously disliked by Wall Street. The design “will be a hit with the company’s fanatic EV installed base globally as Musk & Co. are clearly thinking way out of the box on this model design,” Dan Ives of Wedbush wrote in a Friday note.

But Ives went on to say that those outside the base might disagree.

“Investors will question if this is a mass market pickup going after Ford and GM with ~3 million pickup trucks sold annually in the US, or a more niche ‘wow factor’ model that will be more limited,” he wrote.

Here’s what else Wall Street analysts had to say about the Cybertruck:

1. Cowen: “Blade Runner inspired design appears to be the most controversial feature.”

Tesla

Rating: Underperform

Price target: $190

“Tesla’s Cybertruck reveal will likely disappoint current pickup truck owners and we see the vehicle remaining a niche and not a mainstream product,” Jeffrey Osborne of Cowen wrote in a note Friday.

He continued: “The Blade Runner inspired design appears to be the most controversial feature. The base price of $39,900 is likely never to be seen, just as the $35k Model 3 has failed to materialize.

“CEO, Elon Musk has been enthusiastic about his Blade Runner inspired design for months, but we were still surprised how futuristic he went with this one and believe it may shatter his dreams.”

2. Wedbush: The design “looks more like a stealth bomber than a pickup truck.”

AP Photo/Ringo H.W. Chiu

Rating: Neutral

Price target: $270

The design “looks more like a stealth bomber than a pickup truck in our opinion,” Dan Ives of Wedbush wrote in a Friday note.

He continued: “From a demand perspective this will be a more niche market, as we believe hitting the 150k/175k unit threshold in its first full year of deliveries (likely 2022) is the line in the sand out of the gates and could be a tough bogey to hit.

“For comparison, the leader in the market Ford sells roughly 1 million F-150 pickups per year. In a nutshell, we believe this next generation Cybertruck model could help Tesla expand its market opportunity outside its core customer base over time, although gaining market share with stalwarts such as Ford and GM entrenched in this landscape will be a difficult task for Fremont.”

3. Deutsche Bank: “There are important unanswered questions.”

Reuters

Rating: Hold

Price target: $290

“We believe there are important unanswered questions to be able to assess potential buyer interest in the model, and whether this could attract commercial fleets or remain a consumer niche vehicle,” Emmanuel Rosner of Deutsche Bank wrote in a Friday note.

He continued: “First of all, is the exterior design too polarizing? Second, what are the real battery ranges under working conditions, with a payload or while towing? A greatly reduced range would require commercial customers to opt for the higher trims, which could be significantly more expensive than their equivalent traditional pickups.

“Third, will commercial buyers trust Tesla’s build quality? While the materials used appear robust, there could be questions about the truck’s durability when used under work conditions, especially in light of its seemingly unibody construction. And the shattering of the truck’s unbreakable glass windows during the live demonstration was not a good start.”

4. Canaccord Genuity: “Unique and futuristic design will resonate with consumers.”

Tesla

Rating: Buy

Price target: $375

“While styling will always be subjective, we believe the unique and futuristic design will resonate with consumers, leading to solid demand,” Jed Dorsheimer of Canaccord Genuity wrote in a Friday note.

He continued: “The starting price point of $39,900 for the 250-mile-range, single-motor RWD design option was also a strong point as this positions the Cybertruck competitively in the middle of the lucrative truck market, with production expected in ‘late 2021.’

“While the futuristic design may be polarizing, we are encouraged by the Cybertruck release and believe that along with the coming Model Y crossover SUV, Tesla will be able to address two key categories of the automotive market that it previously could not.”

5. Bernstein: “Cybertruck is likely to be a niche offering.”

Tesla

Rating: Market-perform

Price target: $325

The “really futuristic, like cyberpunk Blade Runner” design “is too bad, because its on-paper specs are insane,” Toni Sacconaghi of Bernstein wrote in a Friday note.

He continued: “As promised, the pickup’s specs are Tesla-like; a range of 250-500+ miles; 0-60 time

“But looks do matter, and we think Cybertruck is likely to be a niche offering – with sales of perhaps 50K units a year or less. We think the best potential comp for the Cybertruck is Hummer, which sold 30-80K units annually during its lifetime.”

6. Credit Suisse: “It’s somewhat unclear to us who the core buyer will be.”

Tesla

Rating: Underperform

Price target: $200

“The Tesla truck should be considered a lifestyle product – the Jeep Wrangler/Gladiator and F-series Raptor franchises come to mind as lifestyle off-road products, as well as other future off-road vehicles (i.e. Ford Bronco, Hummer electric pickup),” Dan Levy of Credit Suisse wrote in a Friday note.

He continued: “Yet amid the radical design for Cybertruck, it’s somewhat unclear to us who the core buyer will be.

“For all that Tesla tried to show edges in the Cybertruck vs. incumbent products, our first take is that Cybertruck is not a threat to incumbent large pickup share.”

7. Morgan Stanley: “More fitting for a work site in a Martian colony.”

Tesla

Rating: Equal weight

Price target: $250

“While some investors may see the design as more fitting for a work site in a Martian colony, true art and design lovers may appreciate that Tesla has tried to bring something totally different to the market here on Earth,” Adam Jonas of Morgan Stanley wrote in a Friday note.

He continued: “In this current iteration, we do not believe the Cybertruck poses a significant threat to the established pickup truck market.”

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Bizzare & Odd

The peak of deaths on Halloween: the history of 1918 repeats itself in the USA

In the United States, the history of a century ago is repeating itself: in 1918, the Halloween celebration was canceled due to the Spanish flu epidemic – the noise of parties disturbed the sick in the hospitals. Mass events were banned this year due to the COVID-19 pandemic, but many Americans still decorate their homes and are going to celebrate the holiday online. They did not break traditions in the White House either. At the same time, some US residents are wondering: is it worth celebrating Halloween in 2020, when all thoughts are about death due to the coronavirus?

Americans have already begun preparations for the Halloween celebration, despite the cancellation of mass events. The focus has shifted from hosting parties to decorating their own homes and virtual flash mobs in which Tiktokers offer to dress themselves up as dead Disney princesses . However, some social media users have questioned the need to celebrate Halloween this year, given the coronavirus pandemic. 

“This Halloween will be the scariest one,” they tweet.

100 years ago in the United States there was a similar situation : all Halloween parties were canceled due to the Spanish flu epidemic, which killed 50 to 100 million people worldwide.

On the eve of Halloween, the number of cases of the Spanish flu increased – the second and most powerful wave of the epidemic occurred.

“Not only was there a peak in mortality on Halloween eve, but there were some pretty strong waves of disease,” Carolyn Orbann, assistant professor of medical sciences at the University of Missouri-Columbia , told CNN . 

“The highest death rate was observed from October to December, possibly due to a more deadly strain of the virus and crowding in hospitals and military camps.”

However, those Americans who were not affected by the disease were tired of being locked up in quarantine and demanded a holiday. There are reports of local newspapers that year, which say that they celebrated more than ever “harsh and stormy”: and in Alabama, crowds of boys running from home to riots, forcing the police to drive on false calls and provoking accidents. A reporter for The Birmingham News wrote that after a month of quarantine, Birmingham residents were literally torn apart from the desire to celebrate Halloween.

“The Health Council’s order banning parties acted like a red rag for a bull — the killer joy of ordinary Halloween festivities poured in,” wrote local media in 1918. The Americans celebrated so vigorously that the San Francisco authorities had to ban people from making noise, because loud noises irritated patients in wards. 

“Conditions were dire in most places in the United States by October 31, 1918,” Elizabeth Otka, professor of English at the University of Richmond, told CNN. –

Shops, schools, churches were closed, there was devastation and the realization that celebrating Halloween was a bad idea.”

Denver has banned parties, during which they usually arranged “diving for apples, tying the tail to a donkey with a blindfold and other entertainment.” Many states have canceled Halloween celebrations for economic reasons – so as not to waste extra food supplies. “I saw a report from Missouri where they usually throw dry corn into each other’s house,” Orbann said. “But in 1918 the price of corn was too high to be scattered, and the children used sawdust to do it.”

Although public gatherings were banned in cities, some people threw house parties. “People did not break the rules, but adjusted to them,” the historian noted. Despite the horrors of the Spanish woman in 1918, people wanted to celebrate and visit each other, as now, in a pandemic, Elizabeth Otka notes. “1918 was remembered for the stacks of coffins and dead bodies, the gravediggers were simply exhausted,” she added. – Nevertheless, many continued to live as before, if none of their relatives was sick, forgetting how dangerous it can be.

It seems reasonable to spend Halloween this year differently, although I love the holiday, it’s great. But to stay alive, I think, is still better. “

To prevent a 100-year-old history from repeating itself on an entire scale, the Los Angeles authorities banned any Halloween parties, gathering at haunted houses, and children from running to neighbors for candy, although, according to tradition, they and so should be in masks and costumes – carnival. But the Americans are not discouraged and carry out flash mobs on the Internet. So, the participants of one of them on TikTok are invited to fantasize about what would become of the Disney princesses if they did not live to see the happy ending.

@charlottelooks

alice finds a bottle labelled ‘drink me’ unaware of its rapid shrinking side effects

♬ B3AKY Let Us Adore You Remix – Shiiny✨

Another resident in quarantine, Samantha Browning, came up with the idea of ​​painting Barbie toy doll houses for mysterious mansions from horror films. Her new hobby takes Samantha 5-10 hours. With Halloween approaching, items created in the summer have become more relevant, because now, in order to beg for sweets from neighbors, you don’t have to go to their houses, but do it in front of Samantha’s creations “contactlessly”.

“This year the pandemic canceled the traditional Halloween, but I decided to adapt the pipe railings on one of my mansions so that candy would slide down for families who still want to celebrate the holiday in a safe way,” explained Samantha on social media. “One of my dollhouses is on the inside veranda, and on Halloween night, I’ll probably put two of the creepiest houses outside with battery-powered candles.”

They did not cancel the holiday in the White House, even despite Trump’s illness. This was announced on Tuesday by CNN, citing a source. It is noted that when celebrating Halloween, the recommendations of the federal Centers for Disease Control and Prevention will be taken into account. 

This means adherence to the mask regime and other preventive measures. Usually on this day, relatives of the US administration staff , families of American military personnel and students of the capital’s schools are invited to the White House , and the head of state and the first lady treat children to sweets on the South Lawn of the White House.

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Coronavirus in Italy: the mysteries of the pandemic

How, after a summer respite, the Apennines seem to plunge into a coronavirus nightmare again.

From a country that until recently was considered one of the most prosperous in terms of the epidemiological situation, Italy, like Spain and France, is again moving into the category of “dangerous”. The growth of new infections, however, is not as rapid as that of neighbors, but quite noticeable. Even before October 10, it was possible to keep the daily increase within 2 thousand cases, but the threshold of 6 thousand has already been overcome. The number of new infected will increase, there is no doubt about it.

Six Dwarfs of Snow White

The Italian government has just adopted a new order, in which for the first time since the end of May, when the quarantine ended, restrictive measures are not lifted, but introduced. Among them: the end of team games for non-professional athletes, limiting the opening hours of drinking establishments in the evening, reducing the number of people invited to family ceremonies such as weddings, christenings and funerals to 30 people. While gyms, swimming pools and schools are open, the authorities assure that they will not switch to remote training again, as well as will not introduce a new nationwide total quarantine. The country simply cannot afford it, either from an economic or social point of view.

As in the entire period of the pandemic, certain decisions of the authorities are criticized and met with outright irony. So, many jokes were generated by the recommendation not to invite more than six guests. Images from “Snow White” immediately appeared on the Internet, where she kicks out the seventh dwarf. On the reproduction of the fresco “The Last Supper” two policemen were added to write out fines for the apostles, who are exactly twice the recommended number of participants in the feast.

Against this background, Prime Minister Giuseppe Conte assured that the country will not turn into a police state and no one intends to send law enforcement officers to control private apartments. At the same time, he also strongly recommends not to disdain masks even at home – almost 70% of new infections occur in the bosom of family and friendly companies. At the same time, many pay attention to the problem of crowded public transport in large cities. And no one is in a hurry to solve it.

Summer “calm”

The second wave has been frightening for a long time, and it would be naive to believe that it could have been avoided. Its offensive, nevertheless quite unexpected, only exacerbated the issue of the summer “lull”. Why did the virus suddenly recede, give a break? The most obvious answer is quarantine. In Italy, it was introduced in early March and lasted until the second half of May. As the experience of the country, the first victim of a pandemic in Europe, has shown, there is no more effective means of countering the spread of coronavirus than self-isolation. In March, the Italians were seriously scared and for the most part obeyed the orders of the authorities. Despite the widespread stereotype about the indiscipline of the southern peoples, Italians – and the pandemic has demonstrated this once again – are quite manageable and led people.

The effect of almost three months of quarantine, namely a decrease in the number of infections, coincided with the onset of summer. Many people said that at high temperatures, the virus spreads more slowly and the viral load drops, although no one has scientifically proven this. But the fact is that during all three summer months the number of daily infections was kept at the level of 200-300. Hundreds of patients remained in hospitals, and intensive care units, previously suffocating from several thousand heavy covids, were practically empty. And this is another mystery of the new coronavirus.

In a word, people began to live as if in the old way: sea, mountains, air, good food and wine. Of course, many refused to travel abroad. But the first “swallows” made themselves felt quickly. The slightest movement led to the emergence of new foci. One of them was formed on the prestigious Emerald Coast on the island of Sardinia, and the infection affected the rich and famous who love to visit him, including the entire Berlusconi family and the former prime minister himself. Someone began to bring COVID-19 from resorts in Croatia and from Greece. In Spain, new infections have already crept. And those arriving from these countries began to take tests for the new coronavirus without fail. Now France, Great Britain, Belgium, as well as a number of other countries are already on this list. From somewhere, entry is simply prohibited, for example from Brazil.

Italy is overwhelmed by the second wave

The first noticeable surge in infections occurred in the second half of August. But everyone continued to pretend that nothing was happening. August bliss is sacred in Italy. In general, they are accustomed to masks, for many they have become a fashion accessory (as well as a subject of designer fantasy). In mid-September, as promised by the government, schools were opened, although it was also not without controversy, criticism and exposure of the system’s unavailability.

To date, there is no division into regions where the coronavirus is more common (north) and where it is less common (south), as it was in the spring, when the southern regions were saved. And this is especially troubling for the authorities, including regional ones, because if hospitalizations begin to grow proportionally, the hospitals in the south will not be able to withstand the load. So far, the fundamental difference between the current situation and what Italy experienced in the spring is that the number of hospitalized people is several times less. While. This is explained, in particular, by a decrease in the average age of those infected (from 60 to 40), and therefore, the disease caused by the new coronavirus is more easily tolerated by many. Some of the experts say that doctors have learned to heal better, learned more about the unpleasant surprises of COVID-19. And to prevent them, hospitalization is often needed.

And one more important observation: it is impossible to compare the current infection rates with the spring ones. Just for the reason that then only 30 thousand tests were carried out, but now they, including express, drive-in, are done up to 130 thousand per day. People stand in lines for hours to get tested. Many infected people are detected during a banal screening, which no one could even think of in the spring, because they had to cope with emergency cases. So the assumption that in the spring the real scale of infection was many times greater is quite justified. Then the official statistics recorded only cases with a “symptomatic course”. The virus, most likely, has not changed, and the solution is one – the vaccine.

The main fear now is uncertainty. People still only pretend that normal life has returned. But every day, with a sinking heart, you are afraid of a call from a kindergarten or school with a notification about the introduction of class quarantine due to the identification of an infected student or teacher. And it is even worse if they are told to urgently take their child, who has already been placed in an isolated room due to the low temperature. “Man proposes, but God disposes” – now sounds more relevant than ever.

Spring Lockdown Economic Price

In a purely economic sense, this is a decrease in GDP by 8-10%. For Italy, where economic growth in recent years has been virtually in lethargic sleep, this is devastating. Hundreds of thousands of jobs have been lost, although, oddly enough, against the background of existing problems, this damage seems to be less noticeable than, say, in the same more prosperous France or Spain. The tourism and cultural sectors, referred to as “Italian oil”, have been the hardest hit. Although in local tourism, everything was not bad everywhere. The Italians flooded their own seashores and mountain resorts. In many places popular with wealthy Italians, things have gone even better this year than in normal years, because, having stayed at home, this category of the population spent the money in the service sector that usually went on holidays abroad.

However, in general, representatives of the tourism sector say that the poorer domestic tourist is not able to compensate for the absence of more generous guests from the USA, Russia, Brazil, India and other countries. The greatest losses are incurred by the “art cities”. Venice in the summer had 60% fewer tourists, which means less income for a city that lives off tourism. A dramatic situation in some areas of Rome. Of course, the lockdown also affected the psychological health of the population. The magnitude of the damage in this sense is difficult to quantify, and most likely it will have an impact in the long term, especially in children, psychologists say. There were, of course, isolated cases of domestic violence, but in general there were no mass divorces.

“A new beginning”

There is also a relative positive in the situation around the pandemic. Italy should receive the lion’s share of funds from the European Recovery Fund. By the way, the resentment towards Europe, which appeared at the beginning when the European partners did not seem to show sufficient solidarity, seemed to have passed. There is a feeling that everyone is in the same boat.

The authorities talk about a “new beginning”, about incredible opportunities for renewal, building a new, more environmentally friendly economic system. It seems that in this endeavor they are even sincere. But then there is a shadow of the threat of the mafia, which is already encroaching on a tidbit, penetrating with its tentacles of the “octopus” into legal business everywhere. Innovative projects are stifled by a bureaucracy, which, despite all the bellicose promises, has so far failed to cope with. But one gets the impression that in a certain sense the people seem to have become a little happier. It’s as if the pandemic taught us to rejoice at the little that it had deprived for several months. Italians are reviving, and the quarantine period has shown that the nation is much more united and committed to its values, including state power, than it seemed.

Dark Period Symbols

Over the past months, there have been many stories engraved in memory. Many of them are reflected in the recently opened photo exhibition of the Foreign Press Association “Lockdown in Italy – through the eyes of foreign journalists”. This is how to remember everything. Many of those shots flew around the world and became symbols of the “dark period”, as the past spring is sometimes called in Italy. Of course, we cannot forget the caravan of military trucks that transported the coffins with the victims of the coronavirus infection from Bergamo. Most of them were old people, and they died alone – they did not let their loved ones. Thoughts about this break my heart to this day.

But I especially remembered a small note in one of the newspapers – a letter of recognition from a student. It was published in the summer, when many restrictions were lifted and even discos were opened. The girl wrote that she followed all the precautions, did not meet with anyone, but was seduced by her best friend’s birthday, which was celebrated in a nightclub. As a result, she became infected, there were no symptoms, so she learned about the coronavirus when her father was admitted to the hospital with complications. In an open letter, the girl reproached herself. We do not exclude that that publication had a certain ideological task and the letter was written by the editorial board. But it raises a moral problem that has plagued the entire pandemic – responsibility and guilt if you become, even through no fault of your own, a carrier of infection. A Nightmare at the thought of who needs to be warned!

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A haunted toilet was installed in an amusement park in Japan

A spooky haunted toilet has been installed in Japan’s Lagunasia amusement park. As planned, the spirit of a young girl named Hanako-san lives in the restroom.

The horror concept is based on an urban legend. In the run-up to Halloween, this will be a great festive addition. In addition, it is located according to all the new “coronavirus rules”.

“The idea behind a haunted house is to walk into a separate toilet room and enjoy the haunted house while maintaining social distance,” explained  Ivana Kent, producer of haunted house design company Kowagarasetai .

The attraction invites you to enter the toilet cubicle. But you can’t enjoy being alone. The spirit of the late Hanako-san will open the door or peep from above, making scary sounds.

“When I entered the dark toilet, I was already scared. Then, when I heard Hanako-san’s story, there was a sound. It scared me even more, and when the spirit appeared from above, I was scared the most, ”said Hiroko Fujioka, a visitor of the attraction  .

According to the founder of the attraction, a person experiences the most terrible emotions when something terrible looks at him from above. This is the most common occurrence in Japanese ghost stories.

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