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Tesla shareholders will finally get answers from Elon Musk
The Street
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3 months ago
It’s been an eventful week for the EV maker.
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Sports
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00:00
It was an eventful and rocky week for Tesla.
00:03
The EV giant finally set a date for its long-delayed annual meeting,
00:07
November 6th, four months past the legal deadline.
00:11
That move came after pressure from frustrated shareholders.
00:14
The same time analysts are losing confidence,
00:17
Goldman Sachs just lowered its price target on the EV maker to $285 per share,
00:23
below where it's currently trading, pointing to weaker sales.
00:26
That follows Wells Fargo, which kept its bearish call on Thursday,
00:30
flagging slumping demand and fading returns from price cuts.
00:35
Even longtime bull Dan Ives of Wedbush has expressed concerns about its direction and CEO Elon Musk.
00:41
Earlier this week, Ives said Tesla's board must act now to rein Musk in,
00:45
suggesting requirements for the amount of time he spends at Tesla.
00:49
Musk's response, a blunt, shut up, Dan.
00:51
And distractions keep piling up from leadership drama at X
00:55
to Musk's political ambitions with his new America party,
00:59
all while Tesla tries to reverse slowing sales
01:01
and expand its long-awaited robo-taxi service.
01:05
That'll do it for your daily briefing from the New York Stock Exchange.
01:08
I'm Caroline Woods with The Street.
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