Sadly, Tesla stock isn't reaping any gains from today's positive developments. Instead, its stock is continuing to crumble along with the rest of the growth stocks on fears the Federal Reserve's planned interest rate hikes will kill the bull market in stocks. It just goes to show: Sometimes, you can't fight the Fed -- going up or going down.
Will Tesla stock drop more than just 2%?
Suffice it to say, though, that if that's going to happen, Tesla stock is going to have to drop a whole lot more than just 2%. Our award-winning analyst team has spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
Is Tesla (TSLA) stock stalling?
Tesla (TSLA) stock falls again on Friday, nearly 3%. Tesla (TSLA) has stalled after Elon Musk's share sale. Elon tweets again this time about Bernie Sanders. Tesla (TSLA) shares fell once again on Friday as the hangover effect from CEO Elon Musk's share sale continued.
What happened to Tesla’s retracement?
Tesla (TSLA) staged a near-perfect retracement to the 9-day moving average as we can see from the Tesla chart below. Then the move failed on Friday when it closed 3% lower. This retracement after the 12% was not unexpected and one we had been warning of.
Is Tesla stock really worth $800 a share?
CS predicted the company will report deliveries of between 225,000 and 230,000 vehicles in the quarter, ahead of consensus predictions for 223,000, reports TheFly.com. While technically only "neutral" on the stock, CS thinks Tesla stock is worth $800 a share -- more than the $778 or so it costs today.
What happened
Shares of Tesla (NASDAQ: TSLA) stock dropped 2% in 1:05 p.m. EDT trading Tuesday as analysts debated what the third quarter might look like for the electric car leader when results come out on Oct. 19.
Now what
And now let's see what the bears have to say. In a separate note out today, GLJ Research doesn't differ much from the bulls in its estimate of Tesla's Q3 deliveries -- about 223,000 units, a number virtually indistinguishable from Credit Suisse's forecast and just 4% below uber-bull Piper Sandler's estimate.
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Tesla (TSLA) stock forecast
Tesla (TSLA) staged a near-perfect retracement to the 9-day moving average as we can see from the Tesla chart below. Then the move failed on Friday when it closed 3% lower. This retracement after the 12% was not unexpected and one we had been warning of.
Confusion reigns: hopes for the G7 meeting could boost sentiment
The biggest event this week could end up being the virtual G7 summit on Thursday, that will see the world’s biggest leaders taking steps to de-escalate the issues with Russia and Ukraine and ultimately resolve the crisis without military intervention.
