Elon Musk, Tesla and Trump
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Tesla ( TSLA 5.66%) stock has tumbled 22% year to date amid a myriad of business and political headwinds, and Wall Street anticipates further declines. The average target price among 55 analysts is $289 per share, which implies 8% downside from the current share price of $316.
Tesla’s stock was recently right around the price at which it closed the session before a spat between CEO Elon Musk and President Donald Trump culminated in a one-day drop of about $150 billion in Tesla’s market value.
Tesla Inc dropped 14% in a single day yesterday, representing one of its most significant one-day falls in the past few years.
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Tesla’s stock was on the verge of a technical breakthrough. Then Musk and President Donald Trump had a very public fallout.
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Baird downgraded shares of Tesla from "Buy" to "Neutral," saying the Musk-Trump spat has led to more uncertainty and the potential for brand damage.
While Tesla may be unveiling its robotaxi on the streets of Austin, these five companies are leading the robotaxi revolution and haven't suffered quite the same brand damage as Tesla.
Tesla faces an existential test this month as it aims to launch self-driving “robotaxis” in its home base of Austin, Texas, where public-safety officials are increasingly concerned about the state’s anti-regulation stance toward autonomous vehicles.
Tesla stock traded higher early Wednesday as shares continue to recover from last week's sell-off with the feud between Elon Musk and President Trump cooling down.
Tesla stock rose 3.40% after being listed as official operator of autonomous vehicles in Austin, with plans to launch robotaxi service on June 12.