To The Moon

A Stifel analyst says legacy carmakers don't have the EV know-how to adequately compete with Tesla. Despite a challenging backdrop for electric-vehicle makers, Tesla Inc.'s stock can still thrive, according to the newest bull on Wall Street.Stifel analyst Stephen Gengaro initiated coverage of Tesla shares with a buy rating and $265 price target late Tuesday, writing that the company is peerless in the EV market and more akin to technology giants.He acknowledged the recent slowdown in EV sales, but he sees better days ahead for Tesla, which has witnessed a 25% stock decline so far this year. The company should come to see improving trends as charger availability grows, less expensive models debut and Tesla's overall technology improves, Gengaro wrote.See also: Rivian's stock surges on $1 billion Volkswagen investment and joint-venture plan. Admittedly, it's not a short-term game. While Tesla's management predicts that the company can start production on the low-cost Model 2 by the star

Tesla will give a one-month trial of its driver-assist technology Full Self-Driving (FSD) to existing and new customers in the United States, according to Tesla CEO Elon Musk and the company's website

According to my Nio stock forecast, a very competitive market will likely see Nio's reach diminish as EV demand weathers a storm in 2024.