Why the Tesla Stock Rally Is Fading Today
(NASDAQ: TSLA) shares have been soaring since the U.S. election in early November. But as the trading week comes to a close, the stock is on track to have its second consecutive losing day.
As of 12:35 p.m. ET Friday, Tesla shares were down 4.3%. Yet, they have still soared by 70% over the past three months. Most of that gain has come after Donald Trump won the U.S. presidential election with backing from Tesla CEO Elon Musk.
The pause in the rally is coming as we approach the end of the year, with investors realizing the company may not hit 2023 electric vehicle (EV) delivery numbers. Tesla must deliver about 515,000 EVs in the fourth quarter to match the 1.8 million units shipped in 2023.
Source Fool.com
Tesla Inc Stock
€284.20
2.490%
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 44.26% compared to the current price of 284.2 € for Tesla Inc.
