To The Moon

I will not buy the dip of $Tesla Motors(TSLA)$ .Tesla's Cinderella ride is officially over. At least that's how one Wall Street analyst is putting it.

The electric vehicle-maker's free fall accelerated on Tuesday after the company said it delivered fewer vehicles in 2022 than it initially targeted. It reported global deliveries of roughly 405,000 for the fourth quarter of 2022, bringing the annual total to roughly 1.3 million. While that was 40% higher than last year, it was below analyst expectations that had already been guided down, as well as below the company’s target of 50% growth in deliveries a year “over a multiyear horizon.”

The start of a new year didn't bring any relief for Tesla stock after a rough 2022. The shares finished Tuesday down 12% to $108.10, making them the biggest decliner on the S&P 500.

Shares of the electric-vehicle maker slid after the company said it delivered fewer vehicles in 2022 than it initially targeted. Tesla delivered about 1.31 million vehicles last year, shy of the more than 1.4 million needed to reach its initial goal.

Separately, Tesla has been fined about $2.2 million by a South Korean regulator for allegedly misleading customers about its electric vehicles' driving ranges.

Tesla's stock closed 2022 with a 65% loss, its worst year on record. Though big tech companies and other growth stocks in general were pummeled in 2022, Tesla in particular was punished, partially due to production issues in Shanghai and investor frustration over Chief Executive Elon Musk's involvement with Twitter.

@Tiger_chat