Tesla, Inc.’s Stock Price Drops to $240.66, Marking a 3.36% Decrease: A Closer Look at the Electric Car Giant’s Market Performance

Tesla, Inc. (TSLA)

240.66 USD -8.36 (-3.36%) Volume: 80.26M

With Tesla, Inc.’s stock price currently standing at 240.66 USD, the trading session has seen a decline of -3.36%, reflecting the company’s turbulent performance. The trading volume has reached 80.26M, while the percentage change Year-to-Date (YTD) sits at -3.15%, indicating a challenging market environment for TSLA. Stay updated for more on Tesla’s stock performance.

Latest developments on Tesla, Inc.

Tesla stock faced a 3% drop after Q3 deliveries fell short of estimates, leading to a dip in share prices. The company also announced a recall of over 27,000 Cybertrucks due to a rearview camera issue, marking the fifth recall for the vehicle within a year. Despite these setbacks, Tesla is planning to raise almost $800 million through a debt sale backed by auto leases. Additionally, the company discontinued its cheapest Model 3 variant in the US and is set to unveil four new batteries in 2026, including ones for a robotaxi. With the anticipation building for the robotaxi event next week, investors are closely watching Tesla’s movements in the market.

Tesla, Inc. on Smartkarma

Analysts on Smartkarma are closely monitoring Tesla as the company gears up for its Q3 2024 earnings report. Uttkarsh Kohli‘s research highlights Tesla’s focus on production forecasts, expansion in China, advances in FSD technology, and the growing energy storage business. With projections of 462,000 deliveries, analysts predict actual numbers could reach 470,000 units, showcasing strong demand, especially in China. Despite a modest 4.85% increase in stock value year-to-date, Tesla faces challenges such as declining EV demand and increased competition.

Additionally, Tesla is preparing for a game-changing Robotaxi event, as mentioned in another report by Uttkarsh Kohli. The event aims to showcase Tesla’s Full Self Driving technology and attract investor interest in autonomous transportation’s future prospects. With strong Q3 2024 sales projections of 460,000–470,000 EVs, Tesla is poised for growth, driven by high demand in China and robust Gigafactory operations. However, the pressure is on as Waymo leads the U.S. market in robotaxi trips, intensifying the competition for Tesla in the autonomous vehicle landscape.

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

Based on the Smartkarma Smart Scores, Tesla has a positive long-term outlook. With high scores in Growth, Resilience, and Momentum, the company is positioned for continued success in the future. Tesla’s focus on innovation and clean energy solutions has propelled its growth within the automotive industry. Additionally, its ability to adapt to market changes and maintain strong momentum further solidifies its position as a key player in the industry.

Tesla’s lower score in Value may indicate that the stock is currently trading at a premium, but its high scores in Dividend, Growth, Resilience, and Momentum outweigh this factor. Overall, Tesla’s innovative approach to electric vehicles and clean energy solutions, coupled with its strong market position and growth potential, make it a promising investment for the long term.

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.
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