tiprankstipranks
Tesla Shares (NASDAQ: TSLA) Fall amid Chinese Lockdown Fears
Market News

Tesla Shares (NASDAQ: TSLA) Fall amid Chinese Lockdown Fears

Shares of Tesla (NASDAQ: TSLA) are down over 5% in today’s trading session, as the stock hit its lowest price since 2020. This can be attributed to a potential return to lockdowns in China as COVID-19 cases began spiking again.

Given that Tesla has a Gigafactory in Shanghai, there are fears that it may be forced to shut production once again. This would have a material impact on its financial results as the China factory is a major driver of profits.

Is TSLA Stock a Buy?

TSLA stock has a Moderate Buy consensus rating based on 19 Buys, seven Holds, and three Sells assigned in the past three months. The average TSLA stock price target of $308.94 implies almost 82% upside potential.

Disclosure

Trending

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

Popular Articles