Tesla stock: When will it stop falling? It's anyone's guess
source link: https://finance.yahoo.com/news/tesla-stock-when-stop-falling-analysts-perfect-storm-105953220.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
shares sliding over 5%
'A perfect storm': It's anyone's guess when Tesla stock will stop tanking
At this point, it may be easier to change a tire on a Model S in under 10 minutes than to try to call a bottom in Tesla's (TSLA) battered stock.
Shares of the EV maker tanked 11.4% on Tuesday's session on reports the company would run at reduced capacity at its key Shanghai plant through January, which raised fresh doubts on the current pace of consumer demand. Tesla's ticker page was among the top three visited on Yahoo Finance, underscoring the ongoing angst on the always volatile stock.
Tesla's decline finally took a bit of a breather on Wednesday, as it was up slightly above the flatline.
But in the wake of the latest drop, the startling stats on Tesla's stock price (and anything tied to it) became that much more jaw-dropping:
One-month: -41%
Three-month: -60%
Six-month: -55%
Year-to-date: -70% (S&P 500 -19%)
Market cap lost year-to-date: $241 billion
Elon Musk net worth lost year-to-date: -$141 billion
Analysts contend the bottom is not yet in sight for the stock despite the bruising sell-off into 2023.
"Musk set off this five-alarm fire on Tesla's stock and he is the only one that can extinguish it. It's a perfect storm between the Musk Twitter fiasco and now demand cracking," Wedbush analyst and vocal Musk critic Dan Ives told Yahoo Finance.
In large part, the fact no one on the Street is trying to make a bottom call on Tesla's stock reflects the mounting bad news swirling around the company.
First are the negative optics on demand both in the U.S. and China.
Tesla said on its website last week it will offer $7,500 discounts on Model 3 and Model Y vehicles delivered in the U.S. in December. That coincides with analysts slashing fourth-quarter delivery estimates ahead of them being reported in early January.
Then the elephant in the room remains — Musk's continued chaotic running of Twitter and how it may impact the operations of Tesla.
The prospect of Musk selling more shares to fuel his turnaround at Twitter have also weighed on the stock. Musk said in a new Twitter spaces chat a week ago he wouldn't sell anymore Tesla shares until 2024 at the earliest. He has this year made similar proclamations only to subsequently sell more stock.
- Yahoo Finance Video
Tesla stock is having its worst year ever, down nearly 70% year to date
Yahoo Finance Live anchors discuss Tesla stock performance as the EV maker heads towards its worst year on record.
7h ago - Yahoo Finance
Why one Tesla bull sees the stock ripping 127% higher
At least one analyst on Wall Street sees Tesla's stock recovering.
3h ago - Yahoo Finance Video
Tesla stock concerns lie around ‘brand damage’ from Elon Musk, Twitter: Analyst
Colin Rusch, Oppenheimer & Co. Managing Director and Senior Research Analyst, sits down with Yahoo Finance Live to talk about Tesla's stock outlook in 2023 following Elon Musk's invested interest in managing Twitter this past year.
1h ago - Motley Fool
Why Tesla Stock Keeps Going Down
Shares of Tesla (NASDAQ: TSLA) -- the world's biggest electric vehicle (EV) company -- fell for a seventh straight trading day on Tuesday as markets reopened. Through 10:40 a.m. ET, shares of the EV kingpin tumbled 6.8% from Friday's close, marking Tesla's 15th down day this month. On Dec. 26, Reuters and The Wall Street Journal reported that Tesla will suspend for an eighth day its production at its Shanghai electric car plant, the largest in the world.
1d ago - Yahoo Finance
Stock market news live updates: Stocks continue year-end slide, Tesla snaps 7-day losing streak
U.S. stocks sank Wednesday, extending a sharp year-end slide as investors hobbled toward the end of a gruesome 2022.
2h ago - Yahoo Finance
Tesla stock snaps 7-day losing streak
Tesla shares finished higher today, snapping a brutal 7-day losing streak for the stock. It’s a brief respite for investors however, with the stock down over 17% in the past 5 days, 42% in the past month, and a whopping 68% for the year.
2h ago - Yahoo Finance
Apple stock faces major test that could turn ‘quite bearish,’ analyst says
The technicals on Apple's stock price are in focus after a recent slide.
3h ago - Yahoo Finance
BlackRock to advise Zelensky on investments aimed to rebuild Ukraine
Ukrainian President Volodymyr Zelensky and BlackRock CEO Larry Fink have formed an alliance to coordinate investments in rebuilding Ukraine, an official announcement from Zelensky’s office published Wednesday indicated.
4h ago - Yahoo Finance
EV roundup: Tesla stock crashes 11%, Nio drops 8% on outlook cut
Here are the big stories moving EV (electric vehicle) stocks today.
1d ago - Variety
Edie Landau, Producer and National Telefilm Associates Executive, Dies at 95
Edyth “Edie” Landau, a producer who oversaw original programming like “The David Susskind Show” and the anthology series “The Play of the Week” during her tenure as executive vice president of the National Telefilm Associates, died in her home Saturday. She was 95. Other series under Edie’s purview as EVP included “The Mike Wallace Show,” […]
20h ago - Zacks
Ford Motor Company (F) Dips More Than Broader Markets: What You Should Know
Ford Motor Company (F) closed at $11.20 in the latest trading session, marking a -1.41% move from the prior day.
1d ago - Investor's Business Daily
How Low Can Tesla Stock Go? Analyst Talks 30 A Share
Tesla investors already lost more than $700 billion on the stock this year. How much more can this S&P 500 stock drop?
5h ago - MarketWatch
Buy shares of only the strongest companies to make money in 2023, including ‘the kings of cash flow,’ says this five-star fund manager
The worst may be over for the stock market for this cycle, but many economists see more pain ahead for 2023, including a possible recession that will create poor financial-performance comparisons for companies and send stock prices even lower. Greg Adams, director of quantitative and risk management at fund manager Alger, recommends that investors focus on companies with solid balance sheets and strong cash flow to endure tough times. Alger is based in New York and has $26 billion in assets under management.
1d ago - MarketWatch
This asset will crush all others in 2023, says hedge-fund manager who nailed one big call of 2022
Harris Kupperman, the president of hedge fund Praetorian Capital. predicts 2023 will be “the year of oil crushing all other” investments.
7h ago - TheStreet.com
My 2023 Stock Pick Is a No-Frills Big Bank Hiding Right in Front of Us
This stock has everything right: It's discounted from recession fears, has great management, benefits from rate hikes and has a competitor on wobbly footing.
4h ago - Fortune
2022 killed the cheap money era. Here’s what the next decade has in store
“I think you occasionally get a turning of the investment and economic age, and we're at one of those now after over a decade of near-zero interest rates,” said George Ball, chairman of Sanders Morris Harris.
10h ago - Zacks
Biotech: 3 Profitable Bios Worth Owning
The biotechnology space can be a difficult area to generate profits. Drugs take years to develop and often fail FDA approval. Today we will look at three top biotech stocks that are very profitable and have attractive future prospects.
3h ago - TheStreet.com
Apple Stock at 52-Week Lows: Here's the Trade.
If the stock closes lower today, it will mark Apple's ninth decline in the past 10 sessions. IPhone reports also raise a bit of concern amid Apple's busiest quarter, while unrelenting selling pressure in tech is bound to weigh on the largest company in the U.S. While Apple has held up the best among FAANG stocks when measured from the one-year highs, Apple stock has performed the worst in the group over the past month, down over 14%.
3h ago - Yahoo Finance Video
AMC stock extends losses after reverse stock split announcement
Yahoo Finance Live takes a look at AMC shares following comments from CEO Adam Aron and the theater chain's stock outlook.
1d ago - Zacks
Upstart Holdings, Inc. (UPST) Is a Trending Stock: Facts to Know Before Betting on It
Zacks.com users have recently been watching Upstart Holdings, Inc. (UPST) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
1d ago
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK