Banking Giant JPMorgan Forecasts Additional 30% Decrease in Tesla Stock Price
Thursday, 4 April 2024, 09:44
Banking giant warns Tesla stock to crash another 30%
The electric vehicle (EV) industry has been having a few bad quarters with none so prominent and few as hard-hit as Elon Musk’s Tesla (NASDAQ: TSLA).
Sluggish Business Performance
- Tesla became the worst performer in the S&P 500 benchmark index
- Reported its worst delivery quarter since Q3 2022
- Received multiple downgrades from various analysts
Banking Giant JPMorgan's Forecast
- JPMorgan downgrades Tesla and predicts a 30% further drop in stock price
- The bank sets a new price target of $115 per share
- Analysts attribute the downgrade to the disappointing delivery report
Conclusion: Investor sentiment towards Tesla has turned more negative due to its recent performance and downgrades from major banks, raising concerns about its future stock price.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.