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Here’s why Tesla’s Model Y announcement is ‘fodder for the bears’

Tesla Inc.’s Model Y may at last have a reveal date, but the timing of the announcement could provide more “fodder for the bears” than act as a catalyst for the stock, analysts at RBC said Monday.

Tesla Chief Executive Elon Musk tweeted Sunday that the compact SUV’s unveiling is set for March 14 at the company’s Los Angeles-area design studio. The news came just days after Musk announced plans for a $35,000, shorter-range Model 3.

Announcing the cheaper Model 3 last week was an indicator that demand for higher-end Model 3 vehicles “has not been as strong as the company expected,” said the RBC analysts, led by Joseph Spak.

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