Stocks Analysis by MarketBeat.com (Sam Quirke) covering: Tesla Inc. Read MarketBeat.com (Sam Quirke)'s latest article on Investing.com
However, they’re already starting to bounce back, and expectations are growing for the rally to continue.tempting entry opportunities
The eye-watering 35% drop through the first week of August must have been a bitter pill for investors to swallow, but already, Tesla shares have recovered about half that drop. On the flip side, however, Tesla’s new factory in the Chinese city of Shanghai, expected to open next year, will strengthen its foothold in the key market as it looks to drive a recovery in demand. Looking ahead to the coming months, Piper Sandler sees Tesla’s robo-taxi event in October as a critical catalyst that should pull shares higher in the weeks before and after.
The stock has also bounced so hard from last month’s drop. It would have been easy for Wall Street to throw in the towel and say Tesla was simply too far away from a full recovery and too risky for their appetite. However, by gaining more than 20% in just two weeks, investors consider the recent sell-off to be overdone.Tesla doesn’t come without its risks, though. The EV industry is going through a fundamental shift right now, with demand among its lowest in years.
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