Jump in Tesla stock mostly driven by 'animal spirits/momentum' says UBS
Investing.com -- Tesla’s recent stock surge of approximately 40% since the U.S. election is being driven more by investor sentiment than fundamental changes, according to UBS analysts on Monday.“From a narrative perspective, especially if one were valuation agnostic, we get it,” UBS said, pointing to factors such as potential regulatory shifts under the incoming Trump administration.
The bank noted that Tesla’s pricing actions have so far only stabilized demand and that further pricing measures might be needed if credits are repealed. Additionally, competition in China and Europe is said to remain strong, with rivals introducing more competitive EV models. “We urge investors to think about what one needs to believe to add to TSLA positions at current levels,” UBS wrote.
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