Musk-Trump Feud Distracts Tesla Traders
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Tesla, Stock
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Baird downgraded shares of Tesla from "Buy" to "Neutral," saying the Musk-Trump spat has led to more uncertainty and the potential for brand damage.
Tesla Inc dropped 14% in a single day yesterday, representing one of its most significant one-day falls in the past few years.
The robotaxi concept and the FSD that powers it are potentially a huge earnings driver for Tesla. One of Tesla's most vocal and visible supporters, Cathie Wood's Ark Invest, which expected a valuation of $2,600 per share for Tesla in 2029, relies on a model that prescribes 88% of the company's value from robotaxis, compared to just 9% from EVs.
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Tesla stock extended declines from earlier in the week as Trump and Musk traded words over the GOP budget bill, which Musk has described as an "abomination."
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Tesla surged on Elon Musk's robotaxi tease, while GitLab and GameStop fell after mixed earnings. Markets watched inflation data and US–China trade tensions closely amid growing uncertainty.
Worried About Tesla's Robotaxi? These Two Words From Nvidia CEO Jensen Huang Might Change Your Mind.
Worried About Tesla's Robotaxi? These Two Words From Nvidia CEO Jensen Huang Might Change Your Mind.
Tesla (NASDAQ: TSLA) is one of the leaders of the electric vehicle (EV) industry, but investors are more focused on its autonomous full self-driving software (FSD), which CEO Elon Musk believes could help it become the most valuable company in the world.
Tesla's recent stock decline is driven by sentiment and negative headlines, not core business fundamentals. Find out why TSLA stock is a Buy.