Skip to content
Markets
Hyperdrive

Tesla Resumes Plunge as Fears of Slow Production Weigh

  • Shares underperform growth peers since Musk’s Twitter bid
  • EV maker’s stock on pace to plunge 50% from November peak
Tesla Gigafactory in Shanghai.

Tesla Gigafactory in Shanghai.

Photographer: Qilai Shen/Bloomberg
Updated on
From

Tesla Inc. shares struggled Tuesday as the electric-vehicle maker’s production woes in China refuse to go away, leading another analyst to slash his 12-month price target on the once high-flying stock.

“With about 13,000 units of production per week and higher than average margins, any production loss at Shanghai is bound to have a significant impact on margins and earnings,” said Daiwa analyst Jairam Nathan, who cut his price target to $800 from $1,150.