Tesla case is being created on Wall Street. After the jump that saw it double in just over a month from $ 400 in mid-November to $ 900 in early January, a highly bearish phase began in February that led to a total burn of 234 in four weeks. billions of dollars in capitalization. Analysts saw excesses in the great revaluation of a group that despite having interesting prospects still has niche dimensions and balance sheets, which only last year came out of losses (721 million dollars of profit in 2020 on a turnover of 31.5 billion ).
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The origins of the decline
At the root of the recent decline in Elon Musk’s stock market is a combination of selling to make quick gains, the weak phase in general for tech stocks, but also a look at the increasingly competitive electric car sector, which will get Tesla right. to defend its leading position from the competition of all the big traditional cars that are making heavy investments to launch their electric cars. On Friday, the stock on Wall Street hit a low of $ 540.94, with a temporary decline of 13%, the levels of the end of November, before recovering something and ending at $ 597.95 (down 3.78%). for a capitalization of 574 billion dollars, with the lowest close of a 2021 that had seen it hit a maximum of 900 dollars. It was also the fourth consecutive week of falls for the stock that seems to have lost the luster of the great leap that started in conjunction with the announcement of the entry into the S & P500.
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The threat
Tesla in fact sees its role as an almost undisputed leader in the electric car threatened by the investments that the large traditional car groups from Ford to Volkswagen, from GM to Volvo, are accelerating to prepare for the abandonment of gasoline and diesel engines that in many countries it is ahead of schedule for political decisions. Tesla has also stopped production of its Model 3 in California since the end of February, which is expected to resume today. A block that would be linked to difficulties in the supply of essential components, both due to bad weather and the shortage that is occurring at a global level for microprocessors. A hitch that risks jeopardizing growth objectives after, thanks to the Model 3 boom, last year the group chaired by Elon Musk exceeded half a million vehicles produced (509,737 cars, and 499,500 delivered: against 367,500 of 2019).
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