Why Tesla Stock Was Pulling Back Today
After a dramatic bull run following the election of Donald Trump last week, Tesla (NASDAQ: TSLA) shares are finally cooling off today, pulling back in line with a broader sell-off as the S 500 is headed for its first decline since the election.
There was no major company-specific news out on Tesla, though Hertz Global again offered evidence that demand for electric vehicles (EVs) isn't as strong as bulls have hoped. Investors appear to be questioning the valuation after the stock jumped nearly 40% over the four sessions after the election.
As of 2:56 p.m. ET, the stock was down 5%.
Source Fool.com
Tesla Inc Stock
€411.80
-0.970%
Currently there is a rather positive sentiment for Tesla Inc with 110 Buy predictions and 41 Sell predictions.
However, we have a potential of -0.19% for Tesla Inc as the target price of 411 € is below the current price of 411.8 €.
