Tesla Bull Says EV Giant Is Going Through 'Brutal Transition,' Blames This For 80% Of Stock Sell-Off
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) shares dropped nearly 11% in two days amid concerns over missing Q1 delivery targets and a six-month performance slump. Wedbush analyst Daniel Ives attributes 80% of the sell-off to communication issues following CFO Zach's departure in August, and 20% to fundamentals. Despite challenges, including issues in China and slowing EV demand, Ives remains bullish, citing Tesla's potential in sub-$30,000 EVs and full self-driving software. He also discussed the global EV market slowdown and potential impacts of a Trump presidency on the EV industry.
March 06, 2024 | 7:07 am
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NEUTRAL IMPACT
Tesla's stock has suffered due to concerns over Q1 deliveries and communication issues post-CFO departure. Despite this, analyst Daniel Ives remains optimistic about Tesla's future in the EV and self-driving market.
The short-term impact on TSLA stock is neutral due to mixed factors: negative sentiment from recent performance and delivery concerns, balanced by positive long-term growth prospects in the EV and self-driving market as highlighted by analyst Daniel Ives. The stock's future performance will likely depend on Tesla's ability to address these concerns and capitalize on its growth opportunities.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100