Tesla is the worst performing stock in the S&P 500
$Tesla(TSLA.US$ is down nearly 32% since January, and is currently the worst performer in the S&P 500 this year.
Despite being apart of the Magnificent 7, in a new report by Wells Fargo, analyst Colin Langan wrote, Tesla is a “growth company with no growth.”
Recent price targets are also reflecting these thoughts.
Wells Fargo has lowered its price target for the stock from $200 to $125, predicting another 25% decrease in value. UBS, meanwhile, has lowered its price target to a more moderate $165 from $225.
Despite recent challenges in market share growth against competitor BYD, traders still believe in the growth of Tesla, and it's maker Elon Musk - and are taking to buying into the dip, or waiting until it drops even lower.
Would you take the risk of investing in Tesla at the moment?
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo AU Community Official Account
A moomoo Australia Official Account for Aussie traders 🇦🇺🦘
602Followers
9Following
789Visitors
Follow
SFRE Keith : EV market under price wars currently, which is not healthy for EV players.
kakaobohne : It's time to buy the dip.
OB1KENOB : Run up!
Lysander : There's an opportunity coming up.
JC7577 : It's been red for days.
rylar : have been removed from Magic 7
Thomas_koh : Falling lower, rebounding higher, and greater chance of profit
MonkeyGee : if it breaks the support it a long way down!