Tesla Stock On Track For 4th Session Of Losses? Here's What's Dragging The EV Giant Today
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) is on track for its fourth session of losses, with shares falling in premarket trading after a reported year-over-year sales decline for the first time since Q2 2020. The company's sales of 386,810 EVs fell short of the expected 431,000 units, attributed to slow production ramp-up and supply challenges. Analysts have mixed reactions, with some maintaining positive ratings but adjusting price targets, while others predict the stock could remain in the $150-$180 range due to negative fundamentals.
April 03, 2024 | 10:35 am
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NEGATIVE IMPACT
Tesla's stock is facing a potential fourth consecutive session of losses after reporting a significant year-over-year sales decline, attributed to production and supply challenges. Analyst views are mixed, with some adjusting price targets downwards while maintaining positive ratings.
The reported sales decline directly impacts investor sentiment and stock performance, especially as it marks the first year-over-year decline since Q2 2020. Analysts' mixed reactions and adjusted price targets reflect uncertainty and potential short-term challenges for Tesla's stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100