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.
Why everyone should sell Tesla stock now?
Tesla doesn't need to do that. In addition to cars, meanwhile, Tesla also has its hand in solar power and battery technology. So there are more avenues for growth as renewable power technology comes to the masses, and it has a very loyal customer base it can sell other products to.
Why is Tesla stock dropping so much?
Tesla Inc (NASDAQ: TSLA) shares are going to take a sharp dive as interest rates rise in the aftermath of the COVID-19 pandemic, Lansdowne Partners fund manager Per Lekander told CNBC on Tuesday.
Would it be worth buying 1 share of Tesla stock?
It looks like Tesla could finally get a much-needed import tax cut on its vehicles in India, but there’s a catch. Tesla Inc., the world’s biggest EV (electric vehicle) manufacturer, the hefty import taxes have been stopping it from making its foray ...
When will Tesla stock drop?
Tesla shares dropped by more than 11% in Thursday trading after the company said it would not produce new model vehicles in 2022, and is not yet working on a $25,000 electric car.
What happened
Between a price target hike from Bank of America and some very positive news on electric car battery ranges, Thursday should have been a great day to own Tesla ( TSLA -2.21% ) stock -- but it's not working out that way.
So what
But let's begin with the good news. This morning, analysts at Bank of America raised their price target on Tesla stock to $1,300 a share, as StreetInsider.com reports. On the one hand, the news isn't as good as it could have been, because BofA stuck with its neutral stock rating on Tesla.
NASDAQ: TSLA
More unambiguously good news today comes out of Michigan, where battery start-up Our Next Energy, which goes by the nickname ONE, says it has just conducted a road test of a Tesla Model S sedan retrofitted with a prototype ONE battery -- and gotten the car to go 752 miles on a single charge.
Now what
Now, that all sounds like fantastic news for Tesla. From an investing angle, one investment bank thinks its stock is worth a lot more than it costs today. From a business angle, another company has independently come up with a battery that -- if produced at commercial volumes -- could dramatically increase the range of Tesla's cars.
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