Analyst reveals new Tesla price target with focus on undervalued business unit
Tesla shares have taken a beating this year. There may be more to come.
Tesla (TSLA) - Get Free Report shares extended their recent run of declines Monday, which have lopped more than $126 billion from the EV maker's market value so far this year, after another Wall Street analyst questioned the group's near-term profit path.
Tesla has lagged its Magnificent 7 peers for much of the past six months thanks in part to a risky strategy that prioritizes market-share gains over improving profits. The strategy has been driven by a series of price cuts across key markets in the U.S., Europe and China.
The Roundhill Magnificent Seven ETF, which trades under the ticker symbol MAGS, has risen nearly 12% so far this year, while Tesla shares are down nearly 25%. Meta Platforms (META) - Get Free Report, whose CEO Mark Zuckerberg was challenged to a cage match last year by Tesla's Elon Musk, is up nearly 40%.
We already had our cage match.
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