Tesla shares dropped over 8% on Wednesday, closing at over $440, marking their sharpest decline since before the election of Donald Trump. Despite recent gains, analysts at Barclays expressed concerns about the stock’s disconnect from fundamentals, maintaining a hold rating with a $270 price target. Elon Musk's new role in Trump's administration adds uncertainty to Tesla's future as it faces increasing competition from Waymo's growing robotaxi services. Tesla is set to report its fourth-quarter deliveries in January, and without new vehicle models since the Cybertruck's release, the company is relying on incentives like 0% financing to maintain sales momentum.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Tesla shares dropped over 8% on Wednesday, closing at over $440, marking their sharpest
00:07decline since before the election of Donald Trump. Despite recent gains, analysts at Barclays
00:12expressed concerns about the stock's disconnect from fundamentals, maintaining a hold rating
00:17with a $270 price target. Elon Musk's new role in Trump's administration adds uncertainty to
00:23Tesla's future as it faces increasing competition from Waymo's growing robo-taxi services.
00:29Tesla is set to report its fourth quarter deliveries in January. Without new vehicle
00:33models since the Cybertruck's release, the company is relying on incentives like
00:37zero percent financing to maintain sales momentum.