EV - Tesla Stock Predictions: Is Tesla's Drop Worth Another Look?
Tesla Inc., the uncontested EV heavyweight, has taken its fair share of blows.
A string of unfavorable articles has sent the stock ( NASDAQ:TSLA ) to its lowest level since the three-for-one split, which is down more than 30% year to date. The increased trading activity during the slump shows that investors anticipate more negative news.
It’s also bad for the S&P 500 because Tesla is the fifth biggest holding. Each of the benchmark’s five leading horses is down 20% or more in 2022.
Among Apple, Microsoft, Alphabet, Amazon, and Tesla, the EV manufacturer has the most potential for long-term development. Tesla stock ( NASDAQ:TSLA ) forecasts imply that the volatile stock may have the most to lose in a bearish market.
Why is Tesla’s stock falling?
Tesla issued a disappointing Q3 vehicle update ahead of the company’s earnings release next week. According to the October announcement, 343,830 automobiles were delivered over the summer quarter, accounting for 94% of total production. The 20,000-plus car differential was attributed to a lack of (fairly priced) trailers to ship to customers when manufacturing ramped up at the conclusion of the quarter.
While the Shanghai plant closure curtailed output, others predict that demand in China has decreased owing to macroeconomic factors and the growth of local rivals such as Nio.
Worse, CEO Elon Musk’s on-again, off-again relat...
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