Tesla Inc. shares fell more than 5% on Tuesday after analysts slashed their price target by one-third, following the stock’s descent below a ‘critical battle line’ of $150 a share.
Evercore analysts Chris McNally, Doug Dutton and Isaac Avla on Tuesday chopped their price target on the electric-vehicle maker’s stock to $200 from $300 in a Tuesday note, saying its strengths are already appreciated by investors and that “emotional” support for the stock is breaking down. The stock is now down 60% so far in 2022 — which would also be its worst year on record — and Tesla’s market capitalization fell lower than $450 billion in intraday trading on Tuesday, pushing it lower than the market cap of Johnson & Johnson for the first time since November 2020. If that change holds through the end of the session, Tesla would be the eighth most valuable stock in the S&P 500 Index SPX after previously ranking as high as No. 5 on that list.
The Evercore analysts praised Tesla’s margin profile, but said investors “are already well aware of these benefits but now must also battle test demand assumptions” for next year through 2025. They wrote that growth has stalled in China, where Tesla holds about 10% of the electric-vehicle market, and that a “partisan elephant in the room” has become tougher to ignore as Musk tweets out more right-wing rhetoric.
Other Tesla analysts this week have expressed increasing frustration with Musk’s activity on Twitter. They said his erratic rule there — which most recently included the temporary suspension of journalists, blocking links to other social platforms, and holding an online poll in which a majority of Twitter users said he should “step down as head of Twitter” — has distracted him from running Tesla.
All there is, is emotional support, it's worth 75% less what it is now
That’s a new low in BS farming
It only gets worse as all of the big car manufacturers have multiple EVs on the road now, and will continue to expand their portfolios. The resultant competitive pressure on Tesla will accelerate market share loss substantially next year. I expect a sub 100 TSLA soon.
lulubelles90210 Tesla is apparently going to unveil hood ornament for all models… a Snowflake 😂😂😂😂😂 ElonMusk ElonTheSnowflake
Lots of tickers look like this. Ford is down 40%. No different for Amazon Netflix Disney Microsoft. All been going down pretty steady since Jan 2021
Another big analyst price cut this week. Which by the way is still too high of a PT
The woke community isn't going back to fossil fuels, and Tesla's are still selling comparatively to ever did! The stock is a reflection of a massive sell! Get in on the ground floor, it's got nowhere to go but up. Anyone says different, they lying 🤥
And will go straight to the bottom where it belongs
Since Feb2020 ( just before corono lockdown started ) it is 140 % UP vs Apple 30 % UP!
Its a buy at $25
RecentlyJaded Couldn't happen to a 'better' man...
He bought temporary support for his current politics and lost grassroots support for his life long work. 🤷♂️🤷♂️
“Emotional” support 😂 More like crybaby tactics because Elon doesn’t march instep with the woke mob
Nice
Elon still acting like a Space Karen + Tesla stock leveraged to buy a quickly degrading Twitter =/= Healthy Tesla Stock despite the company itself doing well
I knew this was coming, just as soon as Musk started spewing his RadicalRightWing B.S. on twitter. Until the BOD replaces him as CEO, Musk's name will remain synonymous with Tesla and his fascist POV will forever taint the Tesla brand. He's turning into another trump.
What's that? People are doing something out of emotions? Quick let me bet against them.
Tasty.
Sell! Plenty of time to buy back in after Elmo's forced out
With a current market cap of $473B USD there is plenty of room for a correction. Competitors: Ford $47B, GM $50B, VW $75B, BMW $58B, etc Even including Ferrari at $55B with some of the highest margins of any automaker. Overvalued Tesla remains the case.
Teslas are poorly made cool looking very fast golf carts. Crypto has been exposed as a fraud. Now it's Tesla's turn.
Why doesn’t the graph go to 0? The relationship of stats being presented on an X/Y graph, should start with 0. I have a feeling this is biased to an opinion to overdramatize the situation.
Buy of the century. Come back to this tweet in ten years and let's see what a 10k investment in TSLA looks like.
Now show $DIS, $UBER, and $NFLX 🤥
Emotional stability of the CEO is also breaking down.
Do they realize it's at $140? LOL
Smart Move: Not!
🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣 EM brought this upon himself. Shareholders should’ve stepped in long before now.
elonmusk selling because has Saudi debts to pay for Twitter loans.. nobody wants to see the business end of the bone saw during the Holidays
Buy buy buy!👍
I'm still buying in they have more than jysr EVs in the pipiline
Is elonmusk quietly selling Tesla shares again?
lauferlaw Anyone concerned about climate change is not going to buy a vehicle from Elon Musk after his outrageous behaviour at Twitter.