Previous close | 134.85 |
Open | 134.67 |
Bid | 135.25 |
Ask | 139.40 |
Strike | 375.00 |
Expiry date | 2025-03-21 |
Day's range | 134.63 - 134.88 |
Contract range | N/A |
Volume | |
Open interest | 12 |
Tesla (TSLA) is preparing for its highly anticipated robotaxi event on October 10th next week. With Wall Street closely monitoring this development, Bernstein has issued a new note on the company, outlining 10 key questions ahead of the automaker's event. The analyst behind the note, Toni Sacconaghi, currently maintains a bearish outlook on Tesla — with an Underperform rating and a price target of $120 on the stock. Market Domination Hosts Julie Hyman and Josh Lipton break down the details. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith
Ahead of Tesla's (TSLA) robotaxi event this Thursday, October 10, Guggenheim Securities director of automotive equity research Ronald Jewsikow joins Seana Smith and Brad Smith on Morning Brief to outline his expectations for the event as a Tesla bear. Jewsikow tells Yahoo Finance he expects “it's more likely to be a sell the news event. I think there's been a lot of hype into this event. We've seen the stock move up. investor expectations are quite high in terms of the promises that are going to be made at this event. And the products that are going to be shown. "Ultimately, there are a lot of boxes that have to be checked, and we think that a real credible path to robotaxi commercialization in the next 12 to 24 months is extremely unlikely to come out of this event.” “Our view towards the stock returning closer to what we think is [its] fundamental value. But I would say that a business trading at 100 times earnings, 100 times our next year's earnings, with little to no free cash flow, is really difficult to underwrite without the robotaxi," Jewsikow goes on to say about the EV maker, believing Tesla could refocus back to its fundamentals after this event. "We estimate US sales were down about 5% in the third quarter versus the second quarter. And while China [region] growth was quite material in the third quarter, I guess we will see the quality of that growth once they report Q3 earnings with the gross margin line item, but it's tough to have any single catalyst from this point.” Jewsikow raises concerns about Tesla’s new models cannibalizing its existing share rather than capturing more of the market. “We've seen the Cybertruck grow, but it's largely been a function of cannibalizing Model S and X sales. If we just look at Tesla's sales volumes for premium vehicles, I think to see the gross margin inflection in the next six to 12 months is pretty unlikely.” For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Naomi Buchanan.
Tesla stock has battled back this year and heading into Thursday's robotaxi event, it is approaching a traditional buy point even as investors appear to be treading carefully prior to the big announcement. Robotaxi event invitations were officially sent to Tesla investors on Sept. 25 and while most of the details are still under wraps, Chief Executive Elon Musk is setting sky-high expectations for the event. "This will be one for the history books," Musk posted to X on Sept. 25, along with a photo of the event announcement.