What's Going On With Tesla's Stock Today?
Portfolio Pulse from Aaron Bry
Despite an upgraded price target from Jeffries analyst Phillipe Houchois, Tesla Inc’s (NASDAQ:TSLA) stock was trading down nearly 2% on Monday. Other electric-vehicle companies, like Rivian Automotive Inc (NASDAQ:RIVN) and Nio Inc - ADR (NYSE:NIO) traded up by about 3% and 7% respectively. The Invesco Solar ETF (NYSE:TAN) was also trading up by about 2% on Monday. Tesla is preparing to release its Q2 earnings next week.
July 10, 2023 | 7:23 pm
News sentiment analysis
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NEGATIVE IMPACT
Tesla's stock is down despite an upgraded price target, indicating market skepticism.
Despite the upgraded price target from Jeffries, Tesla's stock is down. This indicates that the market is skeptical about Tesla's prospects, especially given the increased competition in the EV market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Nio's stock is up, indicating positive market sentiment.
Nio's stock is up, which indicates positive market sentiment. This could be due to the overall positive sentiment in the EV market.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Rivian's stock is up, indicating positive market sentiment.
Rivian's stock is up, which indicates positive market sentiment. This could be due to its focus on its electric pickup offering, which competes directly with Tesla's planned Cybertruck line.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The Invesco Solar ETF is up, indicating positive market sentiment.
The Invesco Solar ETF is up, which indicates positive market sentiment. This could be due to the overall positive sentiment in the renewable energy market.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 50