Tesla, Inc.’s stock price takes a dip to $164.90, marking a 3.63% decline

Tesla, Inc. (TSLA)

164.90 USD -6.21 (-3.63%) Volume: 138.51M

Tesla, Inc.’s stock price stands at 164.90 USD, experiencing a trading session dip of -3.63%, with a significant trading volume of 138.51M. The electric vehicle giant has seen a substantial YTD percentage change of -33.64%, indicating a volatile market performance.

Latest developments on Tesla, Inc.

Key events impacting Tesla’s stock price today include a mixed bag of strategic decisions and market reactions. Amid fierce competition from Chinese EVs, reports surfaced that Tesla scrapped plans for a low-cost car, causing investor uncertainty. However, CEO Elon Musk has vehemently denied these allegations, causing stock price volatility. Furthermore, Tesla is leveraging support from Apple in a pending Autopilot crash trial, stirring investor interest. Notably, Musk also announced that Tesla would unveil its highly anticipated robotaxi on August 8, triggering a surge in shares. However, a slowing EV market, impacting sales and pricing, has led to a 6% fall in Tesla’s stock this week, reflecting the challenges the company faces in a rapidly evolving market.

Tesla, Inc. on Smartkarma

Analysts on Smartkarma are sounding the alarm on Tesla, with several reports highlighting concerning trends for the electric vehicle company.

Vicki Bryan, a bearish analyst, published two reports on the company’s recent performance and future outlook. In Tesla Q1 Deliveries: Look Out Below, Bryan notes that Q1 deliveries were significantly lower than market expectations and Tesla’s own projections. She also points to a record-high excess inventory, contradicting Tesla’s explanation of production issues. In her second report, Tesla Q1 Trends: Rockslide, Bryan highlights the poor delivery trends and warns that her estimates for the quarter and full year may still be too high.

On the other hand, Caixin Global, a bullish analyst, reports that Tesla is increasing the price of its Model Y crossover in China by 5,000 yuan, signaling a potential end to the price war in the Chinese auto market. This comes on the heels of Tesla announcing price increases in the US and Europe as well.

In a separate bearish report, Vicki Bryan criticizes Tesla CEO Elon Musk for his recent behavior, which she sees as a sign that Q1 results may be worse than expected. In Elon Musk Can’t Be Trusted. He Also Can’t Be Stopped, Apparently., Bryan highlights Musk’s lies, hate speech, and erratic behavior, as well as ongoing safety violations, government investigations, and lawsuits surrounding his companies.

Douglas Kim, another bearish analyst, points to a sharp decline in Tesla’s sales in South Korea in January, with only one car sold. This drop is attributed to the government’s reduction of EV subsidies for vehicles with Chinese LFP batteries, as well as consumer hesitation in anticipation of new subsidies.

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

According to Smartkarma’s Smart Scores, the long-term outlook for Tesla is positive. The company received a score of 5 for growth, indicating strong potential for future expansion and development. Tesla operates as a multinational automotive and clean energy company, designing and manufacturing electric vehicles, battery energy storage, and solar products. With a focus on sustainability and innovation, Tesla has positioned itself as a leader in the clean energy sector, which could lead to continued growth and success in the future.

While Tesla received a lower score of 2 for value and 1 for dividend, its overall outlook is still promising. The company received a score of 4 for resilience, indicating its ability to withstand challenges and adapt to changing market conditions. Additionally, Tesla received a score of 2 for momentum, suggesting strong market performance and investor interest. With its unique product offerings and expanding market reach, Tesla is poised for continued success in 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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