Why Tesla, Fisker, and QuantumScape Are Dropping Today
Electric vehicle stocks are having a rough start to the week as the market drops and investors worry that high-cost purchases are slowing down. Home Depot's earnings release this morning showed a 4% drop in same-store sales in the U.S., driven by fewer high-priced purchases.
While EV stocks and home improvement companies don't often have a lot in common, if we're seeing consumers pull back on home spending, they will likely also pull back on vehicle spending.
Shares of (NASDAQ: TSLA) dropped as much as 3.3% today, Fisker (NYSE: FSR) fell 12.3%, and QuantumScape (NYSE: QS) dropped 7.6%. Shares closed down 4.5%, 13.8%, and 6.8%, respectively.
Source Fool.com
Tesla Inc Stock
€289.15
0.260%
Currently there is a rather positive sentiment for Tesla Inc with 104 Buy predictions and 38 Sell predictions.
As a result the target price of 410 € shows a positive potential of 41.79% compared to the current price of 289.15 € for Tesla Inc.
