Tesla shares slip, UBS trims PT
Tesla, all-sessions, falls after UBS cut the EV maker’s PT and lowered its Q1 delivery forecast. IGTV’s Angeline Ong looks at the stock reaction and the reasons behind UBS’ move.
(AI Video Summary)
UBS lowers Tesla's estimated value and Q1 delivery forecast
UBS, a financial institution, has recently made some changes to their assessment of Tesla, a popular electric car company. They have lowered Tesla's estimated value and adjusted their forecast for the company's car deliveries for the first quarter of the year. UBS believes that the demand for Tesla vehicles has slowed down in Western countries and that there is increasing competition for the company in China.
Tesla share price dropping
These adjustments by UBS have affected Tesla's stock price, which has been falling since July 2023. If we look at a two-day chart, we can see the downward trend, and even on a 15-minute chart, we can observe a drop just before the market opens. In fact, as of now, Tesla's stock price has decreased by more than 1% on the IG trading platform.
UBS is worried about the decreased demand for Tesla cars in Western countries. The company is also concerned about the growing competition in China, which may impact Tesla's sales there. These concerns have led UBS to lower their estimated value for Tesla and revise down their forecast for the number of cars Tesla will deliver in the first quarter of the year.
Investors are paying close attention to these changes as they greatly influence Tesla's stock. The 15-minute chart clearly shows how UBS's announcement has immediately affected Tesla's stock price. As the market opens, it is expected that the price will continue to fall as investors react to the news. This downward trend is especially noticeable for those using the IG platform, where Tesla's stock price is currently down more than 1%.
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