Tesla Motors stock plunges to 52-week low after fatal Model X crash
The shares of the Silicon Valley-based electric-car manufacturer Tesla Motors plunged to a 52-week low this week, with the freefall of the company’s stock continuing on Wednesday.
The alarming drop in the previously high-flying Tesla stock is largely a result of the last-week fatal crash involving a Model X, as well as questions being raised about the company’s recent move to increase the production of Model 3. Investors have been worried for the last few quarters about Tesla’s ability to deliver on its promise.
As the company faced production bottlenecks, CEO Elon Musk has mentioned that Tesla Motors will do everything to deliver Model X cars to clients who have booked the electric vehicle. While some investors have sold the stock during the current downturn, others are considering it as a buying opportunity. Tesla stock price will mainly depend on Model 3 deliveries and Musk has earlier indicated that he is closely working with his team to improve vehicle deliveries.
As compared to the high valuation which the Tesla stock achieved on September 18, 2017 when it hit a peak of $389.61 a share, the recent freefall of the company’s shares has led to a significant drop in its market capitalization, to the tune of approximately $20 billion.
With Tesla’s shares presently spanning a bull and bear territory and trading down more than 17% since the beginning of 2018, Morgan Stanley analyst Adam Jonas as well as some other Wall Street analysts are of the opinion that the recent slump in Tesla shares has unfolded a great opportunity for buying the shares.
In a Wednesday note to clients, Jonas said that Morgan Stanley believes that it is “looking at one of the buying opportunities that many investors have been waiting for,” and added that any further fall in Tesla shares would offer “an opportunity to build an Equal-weight position in the stock.”
Japanese luxury automaker Infiniti has confirmed that it is working on a new electric vehicle (EV) platform which is based on the Q Inspiration concept car.
Ahead of the official unveiling of the BMW iX3 SUV at the 2018 Auto Show in Beijing this week, German automaker has shared a teaser video for the new vehicle, which is being considered a part of the automaker’s X SUV line-up.
With German automaker Audi’s electric vehicle (EV) efforts now underway, as is evident from an early peek at its first mass-produced electric car -- the ‘e-tron quattro SUV’ -- in Berlin recently, a Digital Trends report has revealed that the auto
In a recent report, Germany’s Süddeutsche Zeitung has disclosed that US electric vehicle manufacturer Tesla is one of the several automakers interested in joining the ongoing Ionity ‘ultra-fast’ joint electric car charging network project in Europ
During the course of a recent interaction with Bloomberg Television, Sergio Marchionne -- the Chief Executive of Ferrari and Fiat Chrysler -- revealed that a new gasoline-battery hybrid is being tested by Ferrari at its track near Maranello, Italy
Mercedes has planned to premiere its new Maybach-branded concept -- the new Vision Mercedes-Maybach Ultimate Luxury SUV -- on April 25, 2018, at the Beijing Motor Show; but the images of the vehicle have already made their way to the World Wide We