Why Tesla Stock Is Sliding Premarket Today
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) shares dropped in premarket trading following the Cybertruck delivery event. Analysts, including Gene Munster from Deepwater Asset Management, believe the Cybertruck is priced higher than expected, with the top model at $99,990. Analysts also agree that the Cybertruck is unlikely to significantly impact Tesla's financials in 2024 or 2025. The stock is also affected by broader selling in mega-cap stocks. TSLA closed down 1.66% on Thursday and fell another 1.99% in premarket trading on Friday.
December 01, 2023 | 12:52 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Tesla's stock is experiencing a downturn in premarket trading due to higher-than-anticipated pricing for the new Cybertruck and a consensus among analysts that it won't significantly affect financials in the short term.
The negative sentiment from analysts regarding the Cybertruck's pricing and its minimal financial contribution in the coming years is likely to dampen investor enthusiasm in the short term, leading to a potential decrease in Tesla's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100