Home Latest News Now That Tesla Stock Has Split, How Have Wall Street Analysts Adjusted...

Now That Tesla Stock Has Split, How Have Wall Street Analysts Adjusted Their Price Targets? – Tesla (NASDAQ:TSLA) – Benzinga

Tesla, Inc.’s TSLA stock began trading on a split-adjusted basis last week.
How Did Split Treat Tesla? Unlike the past split implemented two years ago, the stock did not experience any strength in the first session following the split. This is despite the stock coming into the 2022 split with marked weakness.
After closing at $891.29 on Wednesday, the day ahead of the stock beginning to trade on a split-adjusted basis, it opened at $302.36 on Thursday. Since Tesla split its shares in the ratio of 3:1, shareholders would be holding 3 shares for every share they held before the split.
Tesla slipped back by a modest 0.35% on Thursday to close at $296.07 and lost a steeper 2.70% to $288.09 on Friday, according to Benzinga Pro data. Friday’s weakness had to do with an across-the-board market sell-off, as investors indiscriminately sold stocks amid a very hawkish speech by Fed Chair Jerome Powell at the Jackson Hole Economic Symposium.
More importantly, after-hours trading in Tesla’s shares on Friday pointed to further weakness. The negative sentiment, however, could change between then and Monday, when it opens for trading.
See also: Tesla's Muted Post-Split Show, Ford Bumps Up Mustang Mach-E Prices, Nio Vindicates Itself: Week's Biggest EV Stories

Sell-Side Sentiment Mixed: Not all Wall Street analysts are in the bullish camp as far as Tesla is concerned. Incidentally, CNBC hosted a bull versus bear debate on Tesla late Thursday, which saw Tesla bull Dan Ives from Wedbush Securities squaring off with Tesla bear Gordon Johnson from GLJ Securities. While one continued to maintain Tesla could take off once the company sorts out its production issues, another reiterated that the period of hypergrowth could be in the rearview of Tesla, as competition closes in.
Here's a compilation of updated price targets:
Photo: Courtesy of Mario Duran-Ortiz on flickr
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

source

Previous articleCrypto Price Today: Bitcoin stays above $23,000; BNB & Polkadot add up to 4% – Economic Times
Next articleLil Durk Deactivates Instagram Following India Royale Breakup Rumors – HipHopDX