Tesla Bears Drive EV Stock To New 52-Week Lows: Will Q1 Earnings Shift Gears?
Portfolio Pulse from Surbhi Jain
Tesla Inc (NASDAQ:TSLA) is facing a significant downturn, with its stock hitting a new 52-week low of $146.22 on April 19, closing at $147.05. The company is set to report Q1 earnings on April 23, with Wall Street expecting 51 cents in EPS and $21.27 billion in revenues. Challenges include layoffs and a price war in China impacting margins. Despite the bearish trend, analysts have a neutral consensus with a potential upside based on recent ratings.
April 22, 2024 | 2:21 pm
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NEGATIVE IMPACT
Tesla Inc faces a bearish trend with a new 52-week low, ahead of Q1 earnings. Challenges include layoffs and a price war in China. Analysts remain neutral with a potential upside.
Tesla's stock is under significant pressure due to internal challenges and market competition, particularly in China. The upcoming Q1 earnings report is critical, but the current bearish trend and analyst expectations suggest a cautious short-term outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100