$Tesla(TSLA.US)JP Morgan: Stock price could drop another 50%!
If it drops another 50%, that would be a 75% plunge, absolutely impossible! These investment banks are insane! Just fueling the volatility.
JP Morgan analyst Ryan Brinkman also slashed Tesla's target price to $120, the lowest on Wall Street. Compared to Tesla's Wednesday closing price near $250, this implies over 50% downside potential.
Additionally, Brinkman significantly lowered Tesla's Q1 delivery and earnings estimates. He reduced Tesla's Q1 delivery forecast from 444,000 vehicles to 355,000, far below the analyst consensus of 430,000.
Brinkman explained that Tesla is facing direct impacts from Musk's "increasingly controversial government role" (referring to his leadership of the "Ministry of Government Efficiency"). Moreover, Musk's frequent political engagements have caused dissatisfaction in Europe, putting much greater sales pressure on Tesla there than in the US.
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