Tesla (TSLA) CEO Elon Musk said himself that the company won't be unscathed from Trump tariffs despite its drive higher today. Caroline Woods notes the bullish and bearish analyst reaction to Tesla as the company braces for President Trump's auto tariffs.
Shares of Tesla (TSLA 1.57%) are surging on Thursday. The electric-vehicle (EV) maker's stock gained 5.2% as of 11:40 a.m.
Rivian Automotive Inc (NASDAQ:RIVN) is surging today, up 6.4% at $12.87 at last check, after surprising news that the company is spinning off its micromobility business into a startup company called Also.
Wall Street analysts warn President Donald Trump's new auto tariffs could raise prices for U.S. buyers of both foreign and locally made vehicles. Trump said he will slap 25% tariffs on imported passenger vehicles and light trucks, as well as on key auto parts including engines, transmissions and powertrain components.
Elon Musk's leadership of the DOGE initiative for the Trump administration has thrown Tesla Inc TSLA into the center of a global political storm.
The Trump administration announced a 25% tariff on all imported vehicles on Wednesday. Tesla is a winner from the tariffs because its US market vehicles are made domestically.
Tesla Inc (NASDAQ:TSLA) will report its first quarter vehicle deliveries next week with analysts at Wedbush expecting a “very soft” print after a tumultuous few months for the company and its CEO Elon Musk. Vehicle deliveries are expected to be in the range of 355,000 to 360,000, down 7% year-over-year.
Elon Musk's Tesla could have an advantage on key rivals in the auto sector after President Trump imposed harsh 25% tariffs on all foreign-made cars and auto parts like engines and transmissions.
Morning Brief anchors Madison Mills and Brad Smith report on President Trump's fresh round of auto tariffs and the impact on foreign automakers and the US economy. Other stories include how tariffs weigh on auto part suppliers, used car stocks, and the price of cars.
HSBC lowered its price target on Tesla (TSLA) to $130 from $165, arguing that "the seeds for the current sales weakness pre-date the recent brand issues." As Caroline Woods points out, it's not shaking the stock.
Elon Musk said the company would not go “unscathed.” Transcript: Kelsey Barberio: President Donald Trump has announced yet another round of tariffs, this time on all cars shipped to the United States.
Tesla has always been treated more like a tech disruptor than your average car company. But slumping sales, a fluctuating stock price, and Elon Musk's right-wing antics have brought this once vaunted company back down to earth.