Tesla Investors Just Got Great News From CEO Elon Musk: The Stock Could Soar 1,300%.
Tesla (NASDAQ: TSLA) shares have declined 15% year to date amid a flurry of bad news. The company lost 7 percentage points of market share in the first quarter, ceding the top position in electric car sales to Chinese automaker BYD, as demand deteriorated across China, Europe, and the United States.Those market share losses were due in part to factory updates that limited production of the Model Y, which still ranks as the best-selling car on the planet. However, CEO Elon Musk's involvement in politics added to the problem. And President Donald Trump created another headwind for the company by imposing a 25% tariff on imported auto parts.Fortunately, shareholders just got good news from Wedbush analyst Dan Ives. Encouraged by the upcoming robotaxi launch in June and Musk stepping back from the Department of Government Efficiency to refocus on Tesla, he raised his target price to $500 per share. That implies 47% upside from its current share price of $339. "We believe Tesla remains the most undervalued AI play in the market today," Ives wrote.Continue reading
Tesla (NASDAQ: TSLA) shares have declined 15% year to date amid a flurry of bad news. The company lost 7 percentage points of market share in the first quarter, ceding the top position in electric car sales to Chinese automaker BYD, as demand deteriorated across China, Europe, and the United States.
Those market share losses were due in part to factory updates that limited production of the Model Y, which still ranks as the best-selling car on the planet. However, CEO Elon Musk's involvement in politics added to the problem. And President Donald Trump created another headwind for the company by imposing a 25% tariff on imported auto parts.
Fortunately, shareholders just got good news from Wedbush analyst Dan Ives. Encouraged by the upcoming robotaxi launch in June and Musk stepping back from the Department of Government Efficiency to refocus on Tesla, he raised his target price to $500 per share. That implies 47% upside from its current share price of $339. "We believe Tesla remains the most undervalued AI play in the market today," Ives wrote.
