© Reuters 10 things Musk needs to do in 2023 to boost Tesla’s stock price!
Investing.com – Tesla (NASDAQ: ) is down more than 65% year to date, according to a closing price of $121.82 on Thursday (29). This week’s low was $108.24, also the lowest since August 2020.
As Tesla’s stock price hit its longest drop since August, some sell-side analysts have jumped out to defend Tesla this week, saying the sharp decline is a good opportunity to buy Tesla’s bottom.
However, Wedbush analysts believe Tesla CEO Elon Musk still needs to do ten things next year to improve market sentiment towards Tesla:
1. Find a CEO for Twitter by the end of January.
2. Stop selling Tesla stock, no more “cry wolf” or Pinocchio.
3. Cautious 2023 delivery targets given the bleak macroeconomic backdrop.
4. Refocus on Tesla, not Twitter.
5. Announcement of the CybertruckWantOn the road by the end of 2023.
6. Restructure the board to include directors with more experience in EV technology and electric vehicles.
7. Repurchase, Repurchase, Repurchase! Big stock buyback programs are critical to confidence on Wall Street.
8. For Tesla’s margin structure, provide more financial indicators and transparency.
9. Musk getting more political on Twitter is bad for electric car sales;
10. Implement the Twitter strategic plan.
Wedbush also removed Tesla from his “best investments” list and lowered his price target on Tesla from $250 to $175.
Analysts said, “Looking at the long-term perspective, we’re still optimistic about Tesla’s and the company’s performance, but Musk needs to start shifting direction or else the situation could get worse.”
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Compiler: Liu Chuan
