Tesla Stock Price Prediction (NASDAQ:TSLA)
In trading that began on Monday, Tesla stock (NASDAQ:TSLA) shares were marked 5.45% lower to change hands at $202.76. This move would increase Tesla stock’s six-month drop to almost 39% if it continues.
Following record quarterly sales of 343,830 vehicles, Tesla said last week that its revenues increased by 56% from the previous year to $21.45 billion. However, this figure fell short of analysts’ projections of a total of $21.96 billion.
According to Tesla, its adjusted earnings for the three months that ended in September were set at $1.05 per share. This represents an increase of about 70% compared to the same time last year and is 5 cents more than the average projection on Wall Street.
Just a few days after reporting earnings for its third quarter that showed the effects of rising production costs and narrowing profit margins, the world’s most valuable car company, Tesla, cut the starting price of its Model 3 sedan by about 5.3% and the price of its Model Y by about 9%.
Due to the group’s efforts to “simplify processes, cut costs, and improve the customer experience,” it’s possible that the company won’t meet its growth goal of 50% for the whole year of deliveries.
The China Passenger Car Association (CPCA) said earlier this month that Tesla set a new record for the number of China-made cars it sold in September with 83,135 units. This is an increase of 8% over the previous record, which was set in June with 78,906 sales.
It is anticipated that demand will decrease over the course of the last few months of the year as China, the world’s largest electric vehicle market, continues to be constrained by Beijing’s “zero Covid” policies, and as countries in Europe and North America pull back on large-scale spending in the face of looming recession fears and the ongoing surge in energy prices. In addition, it is anticipated that demand will decrease as a result of China’s “zero Covid” policies.
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Author Valerie Remorosa 
