Tesla Stock Plunges Amid Diminished Enthusiasm and Weak Fundamentals
Key Metrics:
* TSLA down 28% year-to-date to $349.18
* Worst performer among "Magnificent Seven" tech giants
Fundamentals Weighing on Sentiment:
* Concerns over Tesla's brand perception due to CEO Elon Musk's association with President Trump
* Soft sales in China and Australia
* Rising costs from tariffs on steel and aluminum
* 4Q24 earnings miss and margin weakness
* Delayed rollout of Full Self-Driving in Europe and China
Technical Analysis:
* Tesla's stock has fallen below its 50-day moving average
* Next support level at $334 (100-day moving average)
* Potential downside target of $286 (200-day moving average)
Analyst Outlook:
* JPMorgan's Ryan Brinkman maintains an Underperform rating and $135 price target
* Deutsche Bank's Edison Yu highlights risks of EV fatigue and competition
* Canaccord Genuity's George Gianarikas calls Tesla's results "squishy"
Other Factors:
* Tesla's ambitious production and delivery targets have faced challenges
* Increased competition from established automakers and startups