Key takeout
Tesla (TSLA) won the stock it acquired on Tuesday after losing more than 15% of its value a day ago.
Shares in the Elon Musk-led electric car company rose nearly 5% to $232.70, regaining some of what was lost amid the sellouts since President Trump took office. Stocks are falling for eight consecutive weeks, even after Tuesday’s increase.
Tesla’s stock hit a record of $479.86 about a month after Trump’s election victory, but since Musk began working in cost-cutting sector efficiency in January, the EV maker’s stock has lost almost half of its shares. Recent losses came amid concerns over slower sales in China and lower European registrations, as well as widespread market uncertainty regarding tariffs.
But Tesla’s steep slides could be an opportunity for investors to buy something lower, an analyst for Morgan Stanley told clients on Monday. Analysts repeated the $430 price target, calling Tesla a “top pick” among American automakers, strengthened by the possibilities of artificial intelligence and robotics. The consensus price target for Tesla stocks is around $366 among analysts tracking Tesla and tracking it with visible Alpha.
