Tesla's stock has seen a modest 7% recovery after a significant drop but remains almost 50% lower than its all-time high. JPMorgan has revised Tesla's delivery forecast downward by 20% to 355,000 units, predicting this will represent the worst deliveries in three years. The firm further anticipates that Tesla's stock price could plummet to $120 per share, attributing some vulnerabilities to external factors including tariffs and the impact of Elon Musk's political influence, which may deter traditional Tesla customers.
There are several reasons for this. For starters, the Trump administration's wanton bludgeoning of the U.S. market via tariffs has only served to hurt car companies, including Tesla.
JPMorgan cut Tesla's delivery forecast down by 20% to 355,000 units, down from the initial analyst projection of 444,000, marking the worst result for deliveries Tesla has seen in three years.
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