Tesla shares drop 5% after HSBC initiates coverage, says sell
Publishing timestamp: 2023-11-10 11:53:17
Summary
HSBC initiated coverage of Tesla with a "reduce" rating and a price target of $146 per share. The analysts questioned whether Tesla deserves its current valuation and expressed concerns about the company's ambitious future tech projects. Tesla is also facing labor pressure and strikes in Sweden, as well as potential strikes in the US. Additionally, there have been criticisms of the build quality and design of Tesla's Cybertruck.
Sentiment: NEGATIVE
Tickers: TSLA,
Keywords: elon musk, united states, tesla inc, autos, business news, united auto workers, labor unions, electric vehicles, technology, sweden,