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Home»World News»Tesla: current stock value
World News

Tesla: current stock value

Donald MunnBy Donald MunnJune 7, 2022Updated:September 29, 2022No Comments3 Mins Read
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Tesla stock has seen a significant drop in the value of its shares over the past month: not including the +7.43% yesterday, red dominates. 

Tesla (TSLA) stock falls significantly

 Tesla shares collapseTesla shares drop 19.71%

Over the past month, the stock has lost 19.71% while from November to today it has lost a whopping $500 in value per share from $1,222 to $707. 

With the exception of the first quarterly earnings report for Musk, there hasn’t been much joy and it has been a chain of bad events that have led to this. 

The war in Ukraine, inflation, the commodities crisis, etc., certainly had an influence, but they are not enough to explain what happened. 

According to many analysts, the finger has to be pointed at three important factors. 

The blame for this slide would fall on the umpteenth government lockdown of the Beijing gigafactory, the overly Muskcentric leadership, and the impasse over the entrepreneur’s takeover of Twitter. 

Several analysts think so, such as Daniel Ives of Wedbush Securities, who despite having a reputation for being bullish on Tesla for some time, has lowered his target price on TSLA from $1,400 to $1,000, citing the problems in China.

Ives thinks Musk’s show over the Twitter takeover has also been a problem for Tesla’s stock and that it has become an unmanageable and dangerous situation.

In fact, the negotiations for the entrepreneur’s purchase of the blue social network included an agreement for the transfer of ownership that amounted to 44 billion dollars, but Musk blocked everything following suspicions of fake profiles in a much larger percentage than the company’s ownership stated. 

Jefferies Philippe Houchois also cut Tesla’s (NASDAQ:TSLA) target price from $1250 to $1,050 per share due to lowered estimates and increased problems especially in Asia. 

What were the causes of Tesla’s stock plunge?

According to Houchois, there are two main factors behind the Texan company’s current problems. The Twitter factor has certainly made itself felt, as well as the Chinese government’s heavy-handed clampdown on production at the gigafactory in Shanghai and the fact that the almost trillionaire Elon has too much leadership and under him there is not enough management. 

Jefferies Phillippe said:

“The ‘unfiltered’ communication style can be disturbing, although we usually find it useful as Musk freely shares what’s on his mind and the implications for Tesla, from raw material scarcity to manufacturing challenges or the future. automation. We also note that the loss of key executives, from CFO Ahuja to JB Straubel and Head of Production Guillen, hasn’t stopped Tesla from getting better and better”.

Despite all this, Tesla remains a Buy, according to The Analyst, and indeed Cathie Wood‘s Ark Invest fund has also returned to buy shares in the stock. 

The post Tesla: current stock value appeared first on cryptodailynews24.com.

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Donald Munn
Donald Munn
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