Tesla stock bulls and bears react to Elon Musk's $700 billion crash. Here's what Morgan Stanley, Citi and others say could happen next
from a year-ago peak, and Wall Street is starting to say enough is enough.
"We believe the year-to-date pullback has balanced out the near-term risk/reward," Citi analyst Itay Michaeli said in a note Wednesday. "To be sure, macro/competitive concerns are likely to remain an overhang with capacity rising, but as we've previously written, in a hard landing scenario Tesla's long-term competitive position likely also improves and potentially further enhanced by [President Joe Biden's inflation reduction act].
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