Business

MarketWatch: Stock Market News-Financial News

Tesla’s share price target was significantly reduced by Wedbush’s Ives at China’s “Grand Disaster”, “Twitter” Circus Show

Tesla shares market on Thursday after Wedbush analyst Dan Ives lowered price targets by 29% due to China’s “hard to ignore” headwinds as demand declined due to COVID-related blockades It fell 1.6% in the previous transaction. .. Ives has outperformed electric car makers since April 2021, but has lowered its target price from $ 1,400 to $ 1,000. “The success of the Chinese story on both the supply and demand sides is the cornerstone of our long-term bullish dissertation at Tesla,” Ives wrote in a note to his customers. “But in reality, the current blockade in Shanghai has been a catastrophic disaster so far in the June quarter, and Tesla has shown moderate delivery softening this quarter, with growth in major China regions. The orbit is expected to slow down. [second half of the year]He added that the “circus show” that Tesla CEO Elon Musk would buy Twitter was a “black eye” for Tesla. It’s hard to ignore masks (perception is reality) in an era when the Tesla ecosystem didn’t need any more masks in the worst supply chain crisis seen in modern history, “Ives wrote. S & P 500 decreased by 17.7%.

MarketWatch: Stock Market News-Financial News

Source link MarketWatch: Stock Market News-Financial News

Back to top button