Why Tesla Stock Is Getting Crushed Today

Shares of the electric-car maker Tesla (NASDAQ: TSLA) continued its struggles to open the week of trading, falling roughly 8.3% as of 10:17 a.m. ET today after a Wall Street analyst lowered his price target on the stock and maintained a sell rating.UBS analyst Joseph Spak cut his price target on Tesla by $34 to $225, and shares of Tesla traded around $240, as of this writing. The analyst lowered his first-quarter delivery estimates on the company from 437,000 to 367,000, citing lower demand among Tesla's Model 3 and Model Y in select markets. The 367,000 delivery estimate implies a 26% quarterly drop in deliveries and a 5% decline year over year.Spak's lower delivery estimate also implies that the company's gross margin in its auto business will decline by 330 basis points from the previous quarter to 10.3%, excluding credits. That would also be down from 16.4% in the first quarter of 2024.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool