Down 11% In 1 Week, Is It Time to Buy Tesla Stock?
Shares of electric-car maker and clean energy company (NASDAQ: TSLA) were hammered last week, falling more than 11%. Though much of this pullback was likely driven by a broader-market sell-off, including a nearly 4% pullback in the Nasdaq Composite, some may have been due to growing concerns about how vehicle demand will fair in a high interest rate environment.
But with shares declining so substantially, it's worth considering whether or not the growth stock has now appropriately priced in some of the risks of operating in this uncertain environment. In other words, does the decline make the stock a buy? On the other hand, could it simply be flagging some legitimate concerns, giving investors a good reason to avoid investing in it?
The Federal Reserve's commentary last week when it announced it was keeping fed funds interest rates unchanged after hiking them at an unprecedented speed to a targeted range of between 5.25% and 5.5% featured a mostly hawkish tone -- one worrying for auto investors.
Source Fool.com
Tesla Inc Stock
Our community is currently high on Tesla Inc with 74 Buy predictions and 28 Sell predictions.
With a target price of 247 € there is a slightly positive potential of 15.58% for Tesla Inc compared to the current price of 213.7 €.
