Tesla stock was dropping after weak earnings and downbeat comments from CEO Elon Musk. Wall Street wasn’t feeling very bullish after the report.
“I am worried about the high-interest-rate environment that we are in,” he said. “I can’t emphasize this enough…the vast majority of people buying a car is about the monthly payment.” Wedbush analyst Dan Ives also noticed the downbeat tone of the call, referring to it a “mini-disaster” in a report. Ives rates shares Buy but cut his target price to $310 a share from $350.
“Investors missing the forest for the trees,” he wrote in a report Thursday. He has an interesting idea that he believes people might be missing.
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