After Disastrous First-Quarter Sales, Tesla's Stock Is Down 36% This Year. It Can Go Lower
Wall Street analysts are becoming increasingly bearish on Tesla (TSLA -10.39%). Following the car maker's first-quarter deliveries announcement, Wedbush analyst Daniel Ives called the report a "disaster" and said CEO Elon Musk needs to "get his act together.
Tesla (TSLA -10.39%) stock ended 2024 with a gain of 63%, partly because of President Donald Trump's November U.S. election win. Investors speculated that a looser regulatory environment -- and CEO Elon Musk's closeness with Trump and his inner circle -- could pave the way for Tesla to bring its autonomous driving and humanoid robotics platforms to market more quickly.
The "Magnificent Seven" stocks currently trade at their cheapest valuation premium versus the remaining 493 companies in the S&P 500 (SNPINDEX: ^GSPC) since 2017, according to Goldman Sachs. But none have fallen more sharply than Tesla (TSLA -10.39%).
While many investors hold great respect for Warren Buffett, they may also view him as more of a traditional investor. But the Oracle of Omaha is not afraid to buy trendy technology and artificial intelligence stocks if he thinks they meet his well-known criteria of being wonderful companies at fair prices.
Tesla's stock jumped Wednesday on a report that the electric vehicle maker's CEO, Elon Musk, may exit President Donald Trump's Department of Government Efficiency.
Shares of Tesla (TSLA 5.16%) are rebounding on Wednesday. The electric vehicle maker's stock gained 5.1% as of 12:22 p.m.
Drop is likely combination of ageing lineup, increased competition and backlash to Musk's politics
Finbold's congressional trading radar recently picked up on an interesting transaction involving the carmaker's stock. A March 31 filing revealed that Vicente Gonzalez, the representative of Texas's 34th congressional district, sold $250,000 worth of Tesla stock (NASDAQ: TSLA) on March 17.
[00:00:04] Doug McIntyre: So Lee, uh, president Trump, 25% tariffs all cars and car parts coming into the United States.
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