Daily Scoop 🍦: Tesla (TSLA) Stock To Crash and Burn In May 2024
Tesla's coming conference call will be a pivotal in terms of deciding where the company goes next, and Wedbush Securities' Dan Ives says it's one the most crucial points in the company's history.
The crossroads come amid the company's dramatic 40%-plus stock slide this year. Past months have presented a swarm of issues for the electric vehicle maker, ranging from slumping deliveries to leadership controversies centered on CEO Elon Musk.
Most recently, analysts on Wall Street have been balking at the company's pivot away from the low-cost Model 2 vehicle it was expected to start mass-producing. They're not sold on Tesla instead dedicating itself to autonomous driving and robotaxis.
"While we have seen much more tenuous times in the Tesla story going back to 2015, 2018, 2020..this time is clearly a bit different as for the first time many long time Tesla believers are giving up on the story and throwing in the white towel," Ives wrote in a Friday note.
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