Tesla China Headwinds Hard to Ignore but Dan Ives Still Bullish Long Term

Tesla has been experiencing a slowdown in production amid COVID restrictions at its Shanghai Gigafactory. Meanwhile, racial discrimination issues and poor working conditions leading to a drop off the S&P 500 ESG Index and ongoing drama for Elon Musk on and with Twitter, has caused other headaches. Dan Ives, the managing director of equity research at Wedbush Securities, told Cheddar he is still bullish on Tesla overall but Wedbush has cut its price target on the stock. Ives also added that he sees a 60 percent chance Musk tries to walk away from the Twitter acquisition. "It's really been an epic disaster, the best way to put it the last few months, and I think that's something even though we're bullish and continue long term," he said. "This is one of my favorite ways to play EV In the near term. I mean there's definitely some clear headwinds, which is why we lowered our price target to a $1,000."
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