tiprankstipranks
Tesla (NASDAQ:TSLA) Slips on Software Fix, Cybertruck Testing
Market News

Tesla (NASDAQ:TSLA) Slips on Software Fix, Cybertruck Testing

Story Highlights

Tesla sees shares slip as a new recall effort launches in China, and the Cybertruck testing proves to produce mixed results.

A bit of trouble in China left electric vehicle stock Tesla (NASDAQ:TSLA) on the back foot in Friday morning’s trading. A major software update that serves to address a recall is about to kick in, and Cybertruck testing is proving a bit of a mixed bag. That was enough to send Tesla down modestly in the session.

The latest recall effort to be addressed by the software update focuses on “…unstable rear camera integrated circuit communications owing to software issues.” Such a condition, reports note, may prevent the driver from having access to a full field of vision, which will increase the potential for vehicle collisions and similar safety hazards.

Meanwhile, at the Cybertruck Testing Range

While this is going on, the Cybertruck is getting tested with some noteworthy results. One test that featured highway driving didn’t return the results some were hoping for, but a subsequent test that featured both city and highway driving in “favorable weather” produced much better results overall. Other tests suggested mixed-bag performance issues, including surprisingly zippy acceleration and oddly shaped truck beds that might make them a bit less useful than conventional gas-powered pickups.

What Is a Fair Price for Tesla Stock?

Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 12 Buys, 17 Holds, and five Sells assigned in the past three months, as indicated by the graphic below. After a 1.3% loss in its share price over the past year, the average TSLA price target of $218.75 per share implies 12.16% upside potential.

Disclosure

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles