Tesla, Inc.’s stock price soars to $172.98, marking a robust 4.9% increase

Tesla, Inc. (TSLA)

172.98 USD +8.08 (+4.90%) Volume: 104.14M

Tesla, Inc.’s stock price surged to 172.98 USD, a significant session gain of +4.90%, driven by a high trading volume of 104.14M, despite a YTD decrease of -30.38%, reflecting the volatile nature of TSLA’s stock market performance.

Latest developments on Tesla, Inc.

As Tesla’s Cybertrucks face significant malfunction issues, the company is also dealing with a lawsuit over a fatal crash allegedly caused by Autopilot. Despite these setbacks, Tesla is making strides in its Supercharger technology, with plans to deploy pre-fabricated Superchargers in just four days and the construction of a massive 200-charger site in Florida. Tensions are high as analysts question Elon Musk’s leadership and the company’s growth, particularly in light of scrapped plans for a low-cost car amid fierce competition in China. However, Tesla is set to unveil its much-anticipated Robotaxi on August 8, a move that could significantly impact the company’s stock prices.

Tesla, Inc. on Smartkarma

The latest analyst coverage on Tesla has been mixed, with some analysts expressing a bearish sentiment while others remain bullish. Independent analyst Vicki Bryan published a research report on Smartkarma titled “Tesla Q1 Deliveries: Look Out Below”, where she notes that Q1 deliveries for the company have been disappointing, falling below market expectations and even her own lower estimates. She also points out that Tesla’s explanation for the decline in sales due to production issues does not align with the significant increase in unsold inventory.

In another report, also published on Smartkarma, Bryan continues her bearish stance on Tesla with her research titled “Tesla Q1 Trends: Rockslide”. She highlights that even her lowest estimates for Q1 deliveries were surpassed by the actual numbers, and the struggling Cybertruck continues to hinder the company’s performance. Bryan also mentions that her Q1 and full-year estimates for Tesla may still be too high.

On the other hand, Caixin Global, another independent analyst on Smartkarma, published a report titled “Tesla Increases Price of Model Y in China in Sign That Price War Is Easing”. This report suggests a more bullish sentiment, noting that Tesla plans to increase the price of its popular Model Y crossover in China by 5,000 yuan, indicating a potential easing of the ongoing price war in the Chinese auto market.

However, Bryan’s research report titled “Elon Musk Can’t Be Trusted. He Also Can’t Be Stopped, Apparently.” paints a more negative picture of Tesla’s CEO. She highlights Musk’s erratic behavior and suggests that it may be a sign of worse news to come for the company. Additionally, analyst Douglas Kim’s report on Smartkarma reveals that Tesla only sold one car in January 2024 in South Korea, citing a decrease in EV subsidies and consumer hesitation as possible reasons for the decline in sales.

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

The long-term outlook for Tesla looks promising, according to the Smartkarma Smart Scores. These scores rate companies on a scale of 1-5, with a higher score indicating a better overall outlook. Tesla received a score of 2 for Value, indicating that it may not be considered a good value investment at this time. However, it received a score of 5 for Growth, suggesting that the company has strong potential for future growth. Additionally, Tesla scored a 4 for Resilience, indicating that it may be well-equipped to weather any potential challenges. However, its Momentum score of 2 suggests that the company may not be performing as well in the short-term.

Tesla, a multinational automotive and clean energy company, has been making strides in the electric vehicle market. With its innovative designs and manufacture of electric vehicles, battery energy storage, and solar products, Tesla has established itself as a leader in the industry. The company also has a strong sales and service network, allowing it to sell its products directly to consumers. Based on its Smartkarma Smart Scores, Tesla’s long-term outlook is positive, with high scores in Growth and Resilience. However, its lower scores in Value and Momentum indicate that there may be some room for improvement in these areas.

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