Trading Strategies For Tesla Stock Following Post-Q2 Earnings Sell-Off
Portfolio Pulse from Melanie Schaffer
Tesla Inc's stock plunged over 8% following its Q2 earnings release, despite beating expectations. Analysts from four firms raised their price targets for the stock. Baird analyst Ben Kallo maintains Tesla as a “Best Pick” for the second half of 2023, noting the company's declining margins. Despite the sell-off, the stock's uptrend has not been negated, and the downturn occurred on lower-than-average volume, suggesting bullish control.
July 20, 2023 | 5:40 pm
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Tesla's stock plunged over 8% following its Q2 earnings, but analysts remain bullish, raising price targets. The stock's uptrend remains intact despite the sell-off.
Despite the post-earnings sell-off, Tesla's stock uptrend remains intact, suggesting that the market reaction may be temporary. Analysts remain bullish on the stock, raising their price targets, which could potentially drive the stock price up in the future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100