Tesla Stock Forecast: $TSLA Tumbles After Elon Musk Reveals Financial Fears


June 24th, Tesla Stock Forecast: Current Outlook remains Neutral due to higher Share Volume and Social media Sentiment

The Average Price Target for 12 Months is $962

2 Analysts

Latest TESLA Stock price

Metric Value Trend
Share Volume (Compared to Previous Day) 34M Higher
Forward PE (1 Year) 69.10 NA

Read about Tesla Stock Forecast 2022 here

Tesla Stock Forecast: Performance Chart

Stock and Period 5 days YTD
TSLA +6.01% -41.2%
Lucid +15.6% -52.8%
NIO +19.8% -31.1%
RIVN +4.28% -71.3%

Tesla Stock Forecast: Competition Analysis

Tesla Stock Forecast: Momentum Summary

Indicator Trend
Overall Neutral
Market Data Negative
Volume Higher
Performance vs NASDAQ (5 Days) Lower
Technical Sell
Crowd’s Wisdom Positive
Google Search Steady
Social Media Sentiment Higher

Tesla Stock Forecast: Technicals

Tesla Stock Prediction: Google Search Data

Search on Google for Tesla Stock has been Steady for the last 24 hours. [Use the cursor on the chart to see how things have moved over the previous session at that point in time]

Also Read: Tesla Q4 earnings

Tesla Stock Forecast: Latest Tesla Tweet

Originally tweeted by Steve Urkel (@SteveUrkelDude) on June 24, 2022.

Weekly chart on $TSLA – consolidating at the volume shelf, between support & resistance. Looking for a bigger move in the coming weeks.

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TESLA Q1 Earnings 2022:

Tesla Q1 Earnings

• The automotive revenue is $16.86 Billion with an 87% jump.
• The EPS (Earnings per share) climbed 246% to 3.22.
• The total revenue is $18.76 billion.
• Earlier, Tesla also reported their Total deliveries of 310,048 for the first quarter.

Read about LUCID Stock Forecast

Tesla Stock Predictions: TSLA Social Media Sentiments

Period 7 Days 1 Day Trend
Net Social Media Sentiment ($TSLA) -7.7% -11.5% Higher

Read about Tesla Stock Split

Investing.com Tesla Community

Will Tesla Stock Go Up

Tesla Stock Forecast: Competition performance

It is no surprise that the EV market doesn’t work on a monopoly. Tesla faces serious competition from companies like Ford, Volkswagen, BMW, Kia and Hyundai, all of whom are looking to enter the electric vehicle arena. 

A few months ago, Volvo confirmed EVs will account for 100% of its vehicle sales by 2030. Auto giant General Motors estimates to increase its all-EV fleet to 30 models by the end of 2023. It plans to offer only light vehicle EVs by 2035 while Ford now expects to sell only EVs in Europe by the end of this decade. In addition, Volkswagen announced plans to develop six battery factories in Europe. 

Manufacturing.net

Tesla Stock Forecast: Diversification policies 

Tesla has announced plans for diversification into countries like India, which may prove to be an immense market for the automaker. The company has been in talks with the Indian administration and is expected to begin operations in the country by the later half of 2021. 

The company also expects to expand the reach of its ever-so-famous Gigafactory for battery and vehicle production. With well-established Gigafactories in Nevada, New York and Shanghai, the expansion will lead to similar factories being developed in Berlin and Austin. 

Tesla Stock Prediction and Forecast: Battery Production 

At the moment, Tesla partners with Panasonic for the production of its vehicle batteries. The Gigafactory in Nevada produces Lithium-ion batteries, with the 2020 target of 35 gigawatt-hours per year of cells as well as 50 gigawatt-hours per year (5.7 MW) of battery packs. This production could be equivalent to supplying 500,000 Tesla cars per year

In home-powered solar batteries, Tesla competes with LG, Orison, Sonnen, SimpliPhi Power, and Sunverge. In electric grid energy, the contenders include Strata Solar, AES, and NextEra. 

Tesla Stock Price: Top News

Tesla Stock Starts Falling as Elon Musk Raises Financial Fears

  • During a Tesla owners group interview, CEO Elon Musk revealed fears about the firm’s financial health. 
  • Musk noted that there had been tremendous supply chain interruptions in the past two years. The most critical concern presently is to keep factories operating and pay our employees, says Musk. 
  • This statement comes soon after the firm announced a 10% cut of its salaried staff. 
  • Reportedly, Tesla stock closed the day off lows with a 0.4% fall. The former Leaderboard stock remains well below its 50-day moving average.

South Korea Trims its exposure to Tesla Stock

  • South Korea’s first mutual fund for investment in the EV industry has reportedly trimmed its exposure to Tesla Inc. and redirected money into its Chinese rivals.
  • The Korea Investment Management Co. fund has been a Tesla holder since 2017 and has trimmed the investment to less than 3% from as high as 9%.
  • In addition, Tesla is now not included in Top Stock of Cathie Wood’s Flagship Fund

Tesla’s new car factories are running at a Loss: CEO Elon Musk.

  • In an interview, Tesla’s Chief Executive Elon Musk revealed that its new car factories in Texas and Berlin are “losing billions of dollars” due to decreased production. This is mainly due to a shortage of batteries and China port issues. 
  • Musk also noted that Tesla’s Berlin factory is in a “slightly better position” because it currently utilises the traditional 2170 batteries for cars built there.
  • However, Musk expects Tesla to start producing its Cybertruck- electric pickup trucks by mid-2023.
  • Reportedly, Tesla’s plant near Shanghai is going down for a couple of weeks; this downtime will surely add some uncertainty to Q3 numbers. 
  •  Surprisingly, this downtime isn’t about Covid, but it’s to upgrade equipment.
  • This Gigafactory in Shangai has been either shut or operating at reduced capacity since late March due to Covid outbreaks.
  • Morgan Stanley analyst Adam Jonas has reportedly cut down his Tesla price target. But he’s still bullish with a Buy rating. 
  • His target price dropped $100, from $1,300 to $1,200.
  • This price decline is mainly to an increase in the weighted average cost of capital.

Tesla Announces Stock Split For the Second-time in 2 Years

  • To get rid of their four-digit price tags for a single share, many companies have been lately implementing stock splits 
  • Tech Giants  Amazon.com and Alphabet have announced  20-for-1 stock splits which will push their share prices back down to around $100 per piece.
  • Following the suit, Tesla has also announced a 3-for-1 stock split, second time in two years.
  • Back in April, Canadian e-commerce disruptor Shopify (NYSE: SHOP) announced an unusual 10-for-1 split

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Nasdaq.com-Top Analyst Reports for Tesla

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