Why Tesla, Fisker, and QuantumScape Are Dropping Today
Electric vehicle stocks are having a rough start to the week as the market drops and investors worry that high-cost purchases are slowing down. Home Depot's earnings release this morning showed a 4% drop in same-store sales in the U.S., driven by fewer high-priced purchases.
While EV stocks and home improvement companies don't often have a lot in common, if we're seeing consumers pull back on home spending, they will likely also pull back on vehicle spending.
Shares of (NASDAQ: TSLA) dropped as much as 3.3% today, Fisker (NYSE: FSR) fell 12.3%, and QuantumScape (NYSE: QS) dropped 7.6%. Shares closed down 4.5%, 13.8%, and 6.8%, respectively.
Source Fool.com
Tesla Inc Stock
€206.60
2.100%
Our community is currently high on Tesla Inc with 73 Buy predictions and 28 Sell predictions.
With a target price of 245 € there is a slightly positive potential of 18.59% for Tesla Inc compared to the current price of 206.6 €.
