Tesla, Inc.’s Stock Price Drops to $239.20, Marking a Significant 4.02% Decrease: Is it Time to Buy?

Tesla, Inc. (TSLA)

239.20 USD -10.03 (-4.02%) Volume: 86.98M

With a current stock price of 239.20 USD, Tesla, Inc.’s stock price has seen a significant shift in trading volume at 86.98M and a trading session dip of -4.02%. Despite a year-to-date percentage change of -3.73%, Tesla (TSLA) remains a key player in the electric vehicle market.

Latest developments on Tesla, Inc.

Tesla’s stock price movements today are influenced by a series of events leading up to it. From offering free hardware upgrades with Full Self-Driving to qualify for tax credits, to halting production lines due to a global IT outage, the company has faced challenges. California sales have plunged as competitors move in, while incidents like a woman smashing windows of a Tesla Cybertruck have made headlines. Despite these setbacks, Tesla continues to make headlines with new product launches and updates, including a redesigned Cybertruck tailgate shield and jumpseats. With Elon Musk’s ambitious plans for self-driving ‘robotaxis’ and the company’s focus on innovation, the future of Tesla’s stock remains uncertain but intriguing.

Tesla, Inc. on Smartkarma

Analysts on Smartkarma are closely watching Tesla as the company gears up to release its Q2 earnings report on July 23rd. Uttkarsh Kohli highlights the growth in Tesla’s energy storage business, a potential $25k model car, and the upcoming Robotaxi Day on 8/8 as key points of interest. Meanwhile, Joe Jasper remains bullish on Tesla, emphasizing the company’s position in the large-cap growth sector and the outperformance of growth stocks in the current market environment.

Furthermore, Uttkarsh Kohli‘s analysis points to Tesla’s recent spike in shares following delivery expectations being surpassed. The launch of lower-priced models and the highly anticipated Robo-taxi event on 8/8 are factors contributing to the sharp rally. However, Uttkarsh Kohli also highlights uncertainties ahead for Tesla and its investors. On the other hand, Uttkarsh Kohli‘s bearish outlook delves into the legal challenges surrounding Elon Musk’s $56 billion compensation package and Tesla’s shift to Texas, which could potentially impact the company’s stock performance in the face of competition and evolving market dynamics.

A look at Tesla, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Looking ahead, Tesla’s long-term outlook appears promising based on its Smartkarma Smart Scores. With a high Growth score of 5, the company is positioned for significant expansion and development in the electric vehicle and clean energy markets. Additionally, Tesla scores well in Resilience and Momentum, indicating its ability to adapt to challenges and maintain positive market momentum. While the Value and Dividend scores are lower, the strong performance in Growth, Resilience, and Momentum bodes well for Tesla’s future success.

Tesla Inc., a multinational automotive and clean energy company, is known for its innovative electric vehicles and sustainable energy solutions. With a focus on growth and momentum in the market, Tesla’s strategic positioning sets it apart in the industry. As the company continues to lead the way in electric vehicle technology and clean energy initiatives, its strong scores in Growth and Resilience suggest a bright future ahead for Tesla and its commitment to driving sustainable transportation and energy solutions worldwide.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

💡 Before it’s here, it’s on Smartkarma