A known Tesla bull acted on valuation and the likelihood that the EV maker will continue on a path of lower prices amid increased competition.
Tesla Inc. stock got hit but another downgrade on Thursday, this time from a known Tesla bull, who acted on valuation and said that the EV maker will likely continue to lower its vehicle prices amid increased competition.
“I... Tesla Inc. stock got hit but another downgrade on Thursday, this time from a known Tesla bull, who acted on valuation and said that the EV maker will likely continue to lower its vehicle prices amid increased competition. Tesla shares have shot higher in recent months boosted by investor sentiment around AI and as U.S. automakers have moved to adopt its fast-charging standard connection, the latest of which being Rivian Automotive Inc. RIVN on Wednesday.Tesla’s shares on Wednesday got a downgrade from analysts at Barclays, who warned that the stock’s rally has been “too sharp.”
“Despite the recent rally, we expect material negative revisions for Tesla consensus earnings forecasts and continue to expect a long-term trend of price downs/ATP declines at Tesla driven by intensifying competition with Chinese EV players and a slowing auto consumer,” Jonas said.
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