Tesla stock falls on demand concerns, Elon Musk’s Twitter distraction

Stocks of electric car manufacturers Tesla It fell almost 9% on Thursday as analysts grew more uncertain about the company’s outlook. The stock is down about 70% year-to-date.

After Wednesday’s bell, Canaccord Genuity lowered the automaker’s price target from $304 to $275, citing a “universally bad” public opinion and a “disturbed” shareholder base. “Elon Musk is doing Elon Musk’s thing,” writes Canaccord’s George Gianalicus. “There’s some Twitter-related drama in this, but a lot of it isn’t.”

Related investment news

Pro Pick: Watch All of Thursday's Big Stock Deals on CNBC
CNBC Pro

Meanwhile, Tesla began offering a $7,500 discount on select expensive electric vehicles in the U.S. on Thursday, doubling its previous incentives to encourage deliveries to customers.It’s also in Canada and Mexico. We offer credit.Tesla car price cuts in china in October.

Price cuts for Tesla’s Model 3 sedan and Model Y crossover are seen as a sign of weakening demand.

The company also tried to boost sales and deliveries by offering 10,000 free Supercharger miles to customers who receive a new Tesla car in December.

The best the media can do right now is to divert Musk's attention, says Elevation Partners' McNamee

Buyers of Tesla and other U.S.-made electric vehicles should: $7,500 incentive starting January Derived from Biden’s anti-inflation law. Many potential Tesla owners were holding off on handing over new vehicles from the company until the credit was activated.

Elon Musk’s performance as Twitter’s new owner and CEO has also long caused serious concern. Tesla bulls calling the company’s board To keep him down and focus on electric vehicles and renewable energy companies.

Musk took Twitter private in a $44 billion deal that closed at the end of October, selling about $23 billion of Tesla stock to finance the deal. He has since admitted to an “obvious” overpayment.

As of yesterday’s close, Tesla’s short sellers had risen by more than $15 billion year-to-date, making 2022 the most profitable short seller ever, according to Ortex estimates. Amazon When Facebook They trade behind Tesla and have each made more than $5 billion in short profits so far this year.

https://ift.tt/eiFWJvz Tesla stock falls on demand concerns, Elon Musk’s Twitter distraction


Auto Updates

Comments

Post a Comment

Popular posts from this blog

Sonny Barger’s famous Hells Angels and best-selling author dies at age 83 – Insane Throttle Biker News

Image
Subscribe to the YouTube channel Insane Throttle to get a variety of biker-focused shows and news. Oakland — Sonny, a well-known founding member of Hells Angels, who ran the country on motorcycles, wrote best-selling books, fought the law, won several times, and advocated opposition to smoking after being diagnosed with throat cancer. Barger died at the age of 83. The announcement of Burger’s death was made on his official Facebook page, along with a post containing a farewell message written by Burger. “Reading this message tells me I’m gone. I asked him to post this note shortly after he died,” the post said. “I have had a long and good life full of adventure, and I have the privilege of being part of a great club.” According to the post, Burger died of cancer and was surrounded by his wife Zorana and other loved ones. Born in Modesto, Ralph Hubert Burger moved to Auckland as a kid, joined the US Army as a teenager, and was drawn to motorcycle clubs from an early age. Berg
Read more

The arrest of a motorcycle gangster leads to a business search – insane throttle biker news

Image
If you haven’t subscribed to our YouTube channel you’re missing https://www.youtube.com/c/insanethrottlebikernews An agent at the Isle of Wight County Sheriff’s Office searched for Portsmouth’s business on February 18. The investigation they say stems from the arrest of Ronald Matthews, a member of a suspected outlaw motorcycle gang, last year. The agent arrested Matthews, 35, at his home in Carsville in December and charged him with seven felony and one misdemeanor resulting from a search for two vehicles reportedly stolen. According to an investigation warrant and accompanying affidavit filed with the Portsmouth Circuit Court on February 18, Matthews allegedly possessed a 2019 Ford F350 truck with a counterfeit vehicle identification number on December 7. .. Virginia under the fake Alabama title. The sheriff’s office claims that Matthews is a top member of the Wheels of Soul outlaw motorcycle gang. According to the US Department of Justice website, outlaw motorcycle gangs ar
Read more

Sensata takes a smart approach to sensor production | 2021-12-17

This website requires certain cookies to function and uses other cookies to provide the best experience. When you visit this website, certain cookies are already set and can be deleted and blocked. By closing this message or continuing to use our site, you consent to our use of cookies.Please see the updated one See our privacy and cookie policy for more information. This website uses cookies By closing this message or continuing to use our site, you agree to our cookie policy. learn more This website requires certain cookies to function and uses other cookies to provide the best experience. When you visit this website, certain cookies are already set and can be deleted and blocked. By closing this message or continuing to use our site, you consent to our use of cookies.Please see the updated one See our privacy and cookie policy for more information. https://ift.tt/3GYuxHy Sensata takes a smart approach to sensor production | 2021-1
Read more