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Tesla is the worst performing stock in the S&P 500. Analysts say it has further to fall

pig

Stupidman
Loyal

Tesla is the worst performing stock in the S&P 500. Analysts say it has further to fall​

By Nicole Goodkind, CNN
2 minute read
Published 12:12 PM EDT, Thu March 14, 2024

Tesla's share price has dropped about 60% from its 2021 all-time high of $407.

Tesla's share price has dropped about 60% from its 2021 all-time high of $407.
Brandon Bell/Getty Images


Elon Musk’s Tesla once represented the future of automaking. Now the company’s own future is in question.
The once red-hot electric vehicle maker — heralded as part of the so-called Magnificent Seven behemoth tech stocks — is currently the worst performer in the S&P 500 this year, down nearly 32% since January.
The story of Tesla’s (TSLA) decline has been well documented. The company has been plagued by safety issues and recalls, slowing growth and has even been forced to slash prices. But a new report by Wells Fargo analyst Colin Langan on Wednesday offers a darker picture than previously imagined.
Tesla, he wrote, is a “growth company with no growth.”
Langan predicts that Tesla’s growth will remain flat this year and then decline in 2025 as competition increases, deliveries disappoint and the beleaguered auto and tech company is forced to cut prices again.
UBS also downgraded its forecast for Tesla on Wednesday. Analysts said concerns are mounting as demand for electric vehicles slows and as Chinese rivals take an ever greater share of the global market.
Related article China’s BYD is selling more electric cars than Tesla
With the exception of Tesla, all of the Magnificent Seven companies (that also includes Apple, Amazon, Meta, Google, Nvidia and Microsoft) saw double- or triple-digit earnings growth in the final three months of 2023. Tesla reported a 40% decline in profit from the year before.
Tesla has been navigating through a perfect storm. The EV environment is getting more crowded right as the company’s fundamentals have come into question. Its share price has dropped about 60% from its 2021 all-time high of $407.
But even with the recent drop in price, Tesla’s stock is still very expensive when compared to its actual earnings and profits, said Langan. The company’s former propensity for rapid growth is no longer certain, he said, and shares likely have further to fall.
Wells Fargo has lowered its price target for the stock from $200 to $125, predicting another 25% decrease in value. UBS, meanwhile, has lowered its price target to a more moderate $165 from $225.
 

glockman

Old Fart
Asset
It was a bad day

Feb 16, 2023 at 4:13 pm ET

Dow, S&P 500 post biggest daily drop in about a month on Thursday

By Joseph Adinolfi
im-726999

U.S. stocks post worst day in about a month on Thursday after Fed officials talk up bigger rate hikesAngela Weiss/Agence France-Presse/Getty Images

U.S. stocks suffered their worst drop in about a month on Thursday after hotter-than-expected data on wholesale prices and talk of more aggressive interest-rate hikes rattled markets.

The S&P 500 fell 57.19 points, or 1.4%, to end near 4,090.41, according to preliminary FactSet data. The Dow Jones Industrial Average shed 431.20 points, or 1.3%, ending near 33,696.85. The Nasdaq Composite dropped 214.76 points, or 1.8%, closing near 11,855.83.

For the Dow and S&P 500, it marked the worst daily percentage decline in about a month.

St. Louis Federal Reserve President James Bullard on Thursday said he joined Cleveland Fed President Loretta Mester in advocating a 50 basis point rate hike at the central bank’s meeting earlier this month.

Bullard and Mester are not voting members of the Fed’s interest-rate committee this year, having rotated off after voting last year.

At the Fed’s meeting, the 12 voters unanimously voted to slowed the pace of their rate hikes from 50 basis points to a smaller 25 basis point move, bringing rates up to 4.5%-4.75%.

In his speech, Bullard said further rate hikes were needed to keep inflation coming down this year.

https://www.marketwatch.com/livecoverage/stock-market-today-dow-futures-ease-over-20-points/
 
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Reactions: pig

Leongsam

High Order Twit / Low SES subject
Admin
Asset

Tesla is the worst performing stock in the S&P 500. Analysts say it has further to fall​

By Nicole Goodkind, CNN
2 minute read
Published 12:12 PM EDT, Thu March 14, 2024

Tesla's share price has dropped about 60% from its 2021 all-time high of $407.'s share price has dropped about 60% from its 2021 all-time high of $407.

Tesla's share price has dropped about 60% from its 2021 all-time high of $407.
Brandon Bell/Getty Images


Elon Musk’s Tesla once represented the future of automaking. Now the company’s own future is in question.
The once red-hot electric vehicle maker — heralded as part of the so-called Magnificent Seven behemoth tech stocks — is currently the worst performer in the S&P 500 this year, down nearly 32% since January.
The story of Tesla’s (TSLA) decline has been well documented. The company has been plagued by safety issues and recalls, slowing growth and has even been forced to slash prices. But a new report by Wells Fargo analyst Colin Langan on Wednesday offers a darker picture than previously imagined.
Tesla, he wrote, is a “growth company with no growth.”
Langan predicts that Tesla’s growth will remain flat this year and then decline in 2025 as competition increases, deliveries disappoint and the beleaguered auto and tech company is forced to cut prices again.
UBS also downgraded its forecast for Tesla on Wednesday. Analysts said concerns are mounting as demand for electric vehicles slows and as Chinese rivals take an ever greater share of the global market.
Related article China’s BYD is selling more electric cars than Tesla
With the exception of Tesla, all of the Magnificent Seven companies (that also includes Apple, Amazon, Meta, Google, Nvidia and Microsoft) saw double- or triple-digit earnings growth in the final three months of 2023. Tesla reported a 40% decline in profit from the year before.
Tesla has been navigating through a perfect storm. The EV environment is getting more crowded right as the company’s fundamentals have come into question. Its share price has dropped about 60% from its 2021 all-time high of $407.
But even with the recent drop in price, Tesla’s stock is still very expensive when compared to its actual earnings and profits, said Langan. The company’s former propensity for rapid growth is no longer certain, he said, and shares likely have further to fall.
Wells Fargo has lowered its price target for the stock from $200 to $125, predicting another 25% decrease in value. UBS, meanwhile, has lowered its price target to a more moderate $165 from $225.

Tesla stock will be in the $800 to $1000 range in a few years' time. It would be a good idea to buy now. It is being valued as a car company when it is actually an AI company.
 

Hightech88

Alfrescian
Loyal
https://markets.businessinsider.com...grade-elon-musk-leadership-ross-gerber-2024-3

Tesla's stock plunge could turn around quickly if it gets a 'real CEO,' investor Ross Gerber says​

Mar 15, 2024, 4:51 AM GMT+8
Ross Gerber said he's ditching his Tesla over Elon Musk's antisemitic posts.

Leon Neal/Getty Images and Emma McIntyre/Getty Images
  • Tesla's flagging stock price can rebound if CEO Elon Musk changes his behavior or is replaced, veteran investor Ross Gerber told Yahoo Finance.
  • Musk's behavior on X, formerly Twitter, has turned him into the "devil of advertising," Gerber said.
  • His comments follow a recent Tesla stock downgrade from Wells Fargo, which lowered its price target to $125 a share.
In order to fix Tesla's steep stock decline, CEO Elon Musk must either change his behavior or be replaced, long-time investor Ross Gerber told Yahoo Finance.

"This could turn around very quickly if either Tesla gets a real CEO who's actually going to help the company, or Elon changes his tune and actually comes back to working at Tesla and promoting the brand in a positive way," he said.

The electric vehicle maker has tumbled more than 36% year-to-date, a plunge that's emerged amid disappointing earnings, a lackluster product lineup, and broader market headwinds.

On Monday, Wells Fargo slashed the company's price target to $125 a share, implying a 23% drop from current levels. The bank characterized Tesla as a "growth company with no growth," and expects earnings per share to come in 32% below estimates for this year.

For investors such as Gerber, frustration over Musk's leadership and public behavior is peaking. This has become a point of contention ever since the CEO's purchase of X, formerly Twitter.

Whereas in the past Musk's popular tweets about Tesla effectively saved the company money on marketing, his behavior on the social media platform has more and more become a source of controversy that's hurting the carmaker, Gerber has often pointed out.

In fact, Musk's interaction with an anti-semitic post last November caused Gerber to announce he would replace his Tesla model Y with a Rivian, Tesla's competitor. It's a stark comment from an investor who once sought a seat on the company's board.

"I think investors have had enough, and we see the fallacy in this business model now, where the king of advertising the brand is now the devil of advertising the brand, basically," he told Yahoo on Thursday.

More discouraging are Musk's plans to develop artificial intelligence initiatives separate from Tesla, taking away from the company's ability to enhance its dominance in tech.

Meanwhile, Tesla enthusiast Dan Ives of Wedbush Securities considers investors' bearishness to be overdone, suggesting that the EV-maker's stock could bounce back 77% in 12 months.

To achieve this, Ives emphasized that Musk's compensation package should be improved, while his control of shares should be raised.

--------------
 

eatshitndie

Alfrescian (Inf)
Asset
angela chao, sister of elaine chao (wife of mitch mcconnell) and ceo of foremost group, was stuck in a tesla model x and drowned after reversing into a pond instead of driving forward.
 

Leongsam

High Order Twit / Low SES subject
Admin
Asset

Back from my ~2 hour experience with FSD v12.3. Initial high level observations:

Pros:
- Vastly improved safety vs v12.2 - previous version had issues in my area with unprotected lefts. v12.3 was very safe and confident once it found a safe gap. HUGE improvement. I would say on par, if not better, than v11. Didn't feel unsafe once.
- Significantly smoother than v11 in essentially all situations. Turns, stop and go, lane merges, etc.
- Navigating through parking lots is world's apart from v11 - it's actually usable the second you pull out of a parking spot. Very good sign for Actually Smart Summon (ASS).
- Car is much better at communicating intent to drivers, passengers, and other cars on the road by using subtle movements (creeping primarily) to show what it wants to do. Hard to explain how big of a difference this makes on the road until you experience it.
- Navigating around pedestrians on roadways is extraordinarily better than v11.
- Lane selection is significantly improved over v11.
- Navigating thru speed bumps and dips on the road are a breeze - v11 would sometimes try to launch you into outer space in these situations.

Cons:
- Navigating through parking lots still requires work - can get lost trying to navigate out of a lot to the main road.
- Can get into an awkward give and take with a pedestrian if pedestrian is hesitating to enter road. It's like an infinite game of "you first". I wish car would stop, flash lights, and let pedestrians go in these situations (where safe).
- Still has certain situations on the road where it's slightly hesitant - not safety critical, but it creates an awkward situation between you and other drivers on the road.

Videos coming all thru this week in many different areas to show this in detail.

Overall: Massive improvement over v11, but still not perfect. However, it's becoming much clearer that perfection is achievable with this hardware and software stack, especially given its excellent performance in "blind" turns.

Rate of improvement will be very interesting to track in 2024, and if thus far is any indication, this year might be THE year as long as the rate of improvement continues to accelerate.
10:36 AM · Mar 18, 2024
·
79.6K
Views
 

Devil Within

Alfrescian (Inf)
Asset
Elon Musk has been the target of the deep swarm after he told the supporters of the deep swarm to fuck off. That's why you suddenly see so many negative reports about EV.
 

winners

Alfrescian
Loyal
Tesla stock will be in the $800 to $1000 range in a few years' time. It would be a good idea to buy now. It is being valued as a car company when it is actually an AI company.
I read somewhere that it could hit its low of US$63.
 
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