Tesla shares fell nearly 3% today after HSBC cut its price target on Tesla shares to $146. Despite the downward pressure seen in recent weeks, Tesla shares have managed to maintain a 6-month gain of around 30%.
HSBC several factors influenced the decision. First, HSBC analysts highlighted the significant capital costs associated with Tesla for unrelated electric vehicle (EV) projects, including Full Self-Driving (FSD) technologies, the Dojo supercomputer, and the Optimus robot. It is expected that these projects will generate significant additional expenses without bringing the expected return so quickly, according to the news Investing.com.
2023-11-09 15:15:15
#HSBC #cuts #price #target #Tesla #shares
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