Tesla Stock Has 85% Downside, According to 1 Wall Street Analyst
2024 has not been kind to (NASDAQ: TSLA) stock. Since the year began, a combination of weak demand for electric cars generally, combined with price cuts by Tesla in particular (designed to fix the weak demand problem), have cost Tesla more than one-third of its market capitalization.
And one analyst thinks things will get worse.
On Tuesday, Tesla bear Gordon Johnson of GLJ Research set a new, lower price target of just $22.86 on Tesla stock -- currently the lowest price target on Wall Street. That target implies an 85% downside over the next 12 months!
Source Fool.com