Shares of Tesla (NASDAQ:TSLA) are taking a hit on Monday.
The stock’s decline comes as the broader market sells off on Monday due to fears about the spread of the coronavirus to South Korea and Italy.
At the time of this writing, the S&P 500 is down 3% and the Nasdaq Composite is down 3.6%.
Will Tesla stock go down?
Tesla stock is down more than 17% in Wednesday afternoon trading. What’s more, shares of the electric vehicle pioneer are down an incredible $236, or 24%, since hitting an intraday high of almost $970 a share Tuesday. Investors appear to be taking profits.
Why did Tesla stock drop 2019?
Tesla shares suffered their steepest drop of the year after the electric car maker reported a wider-than-expected loss and disappointing revenue and announced the departure of co-founder and Chief Technology Officer JB Straubel from the executive ranks. That’s the biggest decline since the shares fell 13.9% on Sept.
Why is Tesla down?
The market’s decline came after President Donald Trump’s Wednesday address detailing the measures the U.S. is taking to fight the novel coronavirus failed to calm investors’ nerves. Meanwhile, Morgan Stanley analyst Adam Jonas reduced his 12-month price target for Tesla stock from $500 to $480.
Is Tesla stock a good buy right now?
Tesla stock is currently not a buy, but it could be in the early stages of creating a new buy point. At current levels, Tesla stock is still at risk of a pullback and it’s not a good time to buy shares with the market in a correction.
Is Disney stock a good buy?
Disney stock is not a buy right now, but could be one worth watching. Keep it on your watch list and be on the lookout for a new buy point. Don’t forget to watch the market too. The current bear market makes any stock purchases highly risky.
Will Tesla drop prices in 2020?
Tesla loses the federal tax credit in 2020 in the U.S. (it was $1,875 from July 1 to December 31, 2019 and and $3,750 from January 1 to June 3oth, 2019) and the tax credit in the Netherlands essentially disappears in 2020 for cars in the Model 3’s price range.
Is Tesla in financial trouble?
After two profitable quarters in a row, Tesla is once again in financial trouble. The company has guided down first quarter expectations, and analysts are worried about margins on the new Model 3. Plus, the company has taken on more debt and has a $566 million bill to pay in November.
Does Apple buy Tesla?
Apple (NASDAQ:AAPL) reportedly offered to buy Tesla (NASDAQ:TSLA) at a price around $240 per share in 2013, said Roth Capital Partners analyst Craig Irwin on Tuesday. The surprise news comes as the electric-car maker’s shares fell below $200 amid growing concerns from analysts covering the stock.