Tesla, Inc.’s stock price takes a dive, down 6.08% to $379.28

Tesla, Inc. (TSLA)

379.28 USD -24.56 (-6.08%) Volume: 108.2M

Tesla, Inc.’s stock price is currently at 379.28 USD, experiencing a trading session decline of -6.08%, with a high trading volume of 108.2M. Despite this, the stock’s year-to-date (YTD) performance shows a slight decrease of -5.86%, indicating a volatile yet intriguing investment opportunity for those tracking TSLA’s market movements.

Latest developments on Tesla, Inc.

Today, Tesla stock prices are in focus following a series of events leading up to the company’s first-ever annual sales drop. Reports emerged of a Tesla Cybertruck exploding outside the Trump Hotel in Las Vegas, with the driver identified as an active-duty Army Green Beret. This incident, along with a New Orleans terror attack unrelated to the Tesla blast, has sparked investigations by authorities. Additionally, Tesla’s annual deliveries fell for the first time, signaling a decline in demand despite efforts to boost sales. Elon Musk’s warning of potential lawsuits over media coverage of the Cybertruck explosion adds to the uncertainty surrounding the company’s future performance. Stay tuned for updates on how these events impact Tesla’s stock movements.

Tesla, Inc. on Smartkarma

Analysts on Smartkarma have been closely following Tesla, with a mix of bullish and bearish sentiments. According to Caixin Global, Tesla has shortened its supplier payment cycle to about 90 days in 2024, showcasing financial efficiency and strong supplier relations. This move reflects Tesla’s unique approach to balancing cost-cutting and supplier support in a competitive industry. On the bullish side, Baptista Research highlights Tesla’s record deliveries and resilience in a challenging automotive landscape. However, Fallacy Alarm takes a bearish stance, pointing out Tesla’s historical struggles in the automotive hardware business and the importance of the FSD optionality in the bull case.

Furthermore, Baptista Research also mentions Tesla’s positive Q3 2024 earnings, which led to a surge in their stock performance. Despite industry-wide order volume declines, Tesla managed to achieve record deliveries and maintain a strong position in the market. On the bullish side, Joe Jasper’s report emphasizes buying the pullback in the market as the S&P 500, Nasdaq 100, and Russell 2000 test support levels. Overall, the analyst coverage on Smartkarma provides a comprehensive view of Tesla’s performance, strategic direction, and market positioning for investors to consider.

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 promising long-term outlook. With high scores in Growth, Resilience, and Momentum, the company seems well-positioned for future success. Tesla’s focus on innovation and clean energy solutions, such as electric vehicles and solar products, has contributed to its strong performance in these areas.

Although Tesla’s Value and Dividend scores are not as high as its other scores, the company’s emphasis on growth and resilience indicates a positive trajectory. As a leader in the automotive and clean energy sector, Tesla’s unique offerings and strong market presence suggest a bright future ahead.

### Tesla Inc. operates as a multinational automotive and clean energy company. The Company designs and manufactures electric vehicles, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services. Tesla owns its sales and service network and sells electric power train components to other automobile manufacturers. ###

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.
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