Tesla Locked In a 'WWE-Like' Standoff In Scandinavia, Says Analyst: Why This Swedish Union Battle Is Important For The EV Giant
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) is facing a labor union strike in Scandinavia that started in Sweden and has spread to Denmark, Finland, and Norway. The strike began with 130 mechanics and has escalated as transporters refuse to deliver vehicles and license plates, and unions pledge not to unload or transport Tesla vehicles. Wedbush analyst Daniel Ives views the standoff as a critical issue that could have global ramifications for Tesla's relationship with unions, particularly with the UAW in the U.S. Ives maintains an 'Outperform' rating and a $310 price target for Tesla stock.
December 17, 2023 | 7:50 pm
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Tesla is dealing with a labor union strike in Scandinavia, which is causing delivery and operational disruptions. The situation is seen as a potential precursor to wider union challenges globally, including with the UAW in the U.S.
The labor strike in Scandinavia is directly affecting Tesla's operations and could lead to negative sentiment among investors due to potential future union disputes. This may put short-term pressure on the stock price, although the analyst maintains a positive outlook.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90