On Monday, Tesla (TSLA.US) opened high but fell over 1%, having surged nearly 40% this month, closing at 348.37 USD.
According to Zhito Finance APP, on Monday, Tesla (TSLA.US) opened high but fell over 1%, having surged nearly 40% this month, closing at 348.37 USD. In terms of news, ubs group analysts stated in a research report that the rise in Tesla's stock price after the usa election is more due to a booming market rather than actual improvements in its business fundamentals. Analysts led by Joseph Spak wrote that although there have been potentially bullish policy suggestions since Donald Trump was elected president of the usa, they are not necessarily absolute bulls for Tesla.
Spak wrote that for instance, the cancellation of the consumer tax credit for electric vehicle purchases could force Tesla to lower its prices. He also pointed out that while the regulatory environment under Trump's leadership may be more favorable to ai companies, including self-driving cars, Tesla does not yet have self-driving taxis that can take advantage of relaxed regulations. "The surge in Tesla's stock price is mainly driven by animal spirits/momentum," Spak said in the report. He maintains a sell rating on the stock but has raised the target price from 197 USD to 226 USD.
