What's Going On With Tesla Stock?
Portfolio Pulse from Adam Eckert
Tesla Inc's shares experienced volatility, surging 7.7% on Tuesday due to a drop in Treasury yields following the release of new U.S. economic data. The increase in Tesla vehicle registrations in China and the launch of a $300 million AI computing cluster powered by Nvidia chips also contributed to the surge. However, a bearish update from Guggenheim analyst Ronald Jewsikow, who reiterated Tesla with a Sell rating and maintained a $125 price target, seems to have caused some selling pressure.
August 30, 2023 | 2:34 pm
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Tesla's stock surged due to a drop in Treasury yields, increased vehicle registrations in China, and the launch of a $300 million AI computing cluster. However, a bearish update from a Guggenheim analyst caused some selling pressure.
The surge in Tesla's stock can be attributed to a drop in Treasury yields, increased vehicle registrations in China, and the launch of a $300 million AI computing cluster. However, a bearish update from a Guggenheim analyst, who reiterated Tesla with a Sell rating and maintained a $125 price target, seems to have caused some selling pressure, making the short-term impact neutral.
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