Why Tesla Shares Are In Reverse Gear Premarket Today
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) shares could extend losses due to a rise in risk aversion toward growth stocks and company-specific news. Higher bond yields make investment in high-growth tech stocks unattractive. Tesla's production at the Giga Texas factory may remain suspended until September due to factory upgrades. The company is also facing depletion in the Model 3 inventory. Future Fund’s Gary Black expects Tesla’s third-quarter deliveries to undershoot expectations.
September 21, 2023 | 11:35 am
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Tesla's stock could face downward pressure due to higher bond yields and company-specific issues. Production suspension at the Giga Texas factory and depletion in Model 3 inventory could impact the company's performance.
The rise in bond yields makes high-growth tech stocks like Tesla less attractive to investors. Additionally, the suspension of production at the Giga Texas factory and depletion in Model 3 inventory could negatively impact Tesla's performance and stock price.
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