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Tesla Price Target Slashed to $1,000 by Wedbush Amid China Slowdown, Twitter Drama

May 20, 2022
Source: teslanorth.com teslanorth.com
News Snapshot:
According to MarketWatch , Wedbush Securities Managing Director Daniel Ives has slashed his price target on Tesla by 29%, from $1,400 USD per share to $1,000 USD. Historically a Tesla bull, Ives said in a note to Wedbush clients that it is “hard to ignore” Tesla’s woes in China, where strict lockdowns following a COVID-19 outbreak have soured both the local demand for the company’s cars and production at its Shanghai Gigafactory . Giga Shanghai’s assembly lines remained silent for 24 days over the course of two lockdowns imposed by the local government . At a peak run rate of...
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