Tesla is no longer a red-hot growth stock. Chief Executive Officer Elon Musk has said as much.
But even by that new standard with growth forecasts on Wall Street sinking rapidly the grim sales prediction from a key Tesla analyst on March 13 was still shocking. There will be zero growth in sales volumes for the electric-vehicle (EV) maker in 2024, Wells Fargo's Colin Langan said. And in 2025, it will be worse yet: Volumes will drop.
Shares of the company reacted appropriately, dropping 4.5 per cent to close at a 10-month low of US$169.50 (S$225.80) on March 13.
The stock has now fallen 32 per cent in 2024, missing out on a broader rally that has pushed the S&P 500 Index up 8.3 per cent.
The reason is clear: Tesla's ability to grow at the furious pace that its expensive valuation promises is no longer a guarantee. The company still trades at a multiple that is significantly higher than other mega-cap high-flyers, yet the pace of expansion in its revenue and profit has slowed markedly since 2023.
この記事は The Straits Times の March 15, 2024 版に掲載されています。
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この記事は The Straits Times の March 15, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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