Tesla Inc.’s shares were extended on Monday and fell below a price that Howard Lutnick would never fall again.
Stocks fell to $ 9.2 in New York in the midst of a wider sales in global stock markets up to 9.2% as of 9:41%. Lutnick in question During a FOX News interview on March 19 – when Tesla closes at $ 235.86 – viewers need to buy the stock. Elon Musk, Chairman of the Executive Board, said that they should do to Tesla employees the next day to hang around shares.
The latest decline, after Tesla’s largest bulls Wedbush Securities Analyst Daniel Ives, refers to Trump’s trade policies, reducing the price target over the stock by more than 40%.A brand crisisIt was created by Musk.
Tesla shares fell by 55% in mid -December from a high record. Given the proximity of Musk to the election at that time, the stock increased after the election victory, which was expected to be a blessing for the company. Instead, Musk’s participation in political debates both in the US and abroad has repelled some car buyers and created protests against the company.
Tesla last week in the first quarterVehicle DeliveriesThis has not been able to meet expectations that have been largely reduced by falling to the lowest level since 2022. Jpmorgan Chase & Co., one of Wall Street’s most decline analysts in stock, said Ryan Brinkman may underestimate the degree of consumer response.unprecedented brand damage. “
A few analysts have reduced their forecasts for Tesla’s sales and earnings in recent weeks, even before the company reported the number of weak vehicle deliveries. Tesla is seen relatively insulated from Trump about 25% of tariffs announced about imported cars, while the Musk warned that the company will not be damaged.
“The tariffs in the existing forms, Tesla, the general supply chain, and the global footprint, such as BYD for years, will disrupt the global footprint,” Wedbush’s Ives, on Sunday, “Wedbush’s Ives will disrupt the global footprint on Sunday. He said.
Tesla’s position in China is greater than IVES.
“It will be difficult to reduce the reaction from the Trump tariff policies in China and the Musk Association, and this will lead Chinese consumers to buy indigenous purchases like BYD, Nio, XPENG and others,” he said.
This story initially took part in Fortune.com
