Tesla's decision to cut the price of its popular Model 3 suggests the electric car maker is approaching an"air pocket" in demand, which Morgan Stanley says could weigh on both its bottom line and stock price.
He also reduced his 2019 earnings per share estimate to $1.30 from $4.17 and his 2020 estimate to $6.69 from $10.22. The analyst's new $260 stock price target implies about 10 percent downside to Tesla shares over the next year from Monday's close at $290.92. Shares fell 1.5 percent in premarket trading following the Morgan Stanley note.
Time will tell! In the long term, most of the other cars in the price range of 35K and more worth much less!
The Pied Piper! BayAreaBS ShortTSLA
How’s your bullish call on Ford going?
CNBC is shamelessly disgraceful
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