For the rest of 2023, Baird analyst Ben Kallo has six 'best ideas' for investors. Tesla is one of them.
Coming into Monday trading, shares of the EV leader have dropped for six consecutive days and 13 of the past 14. Shares are down almost 10% over the past six trading sessions and 17% over the past 14. A mix of a market slide, fears over electric vehicle pricing, and Chinese economic woes have weighed on investor sentiment.
Tesla stock is trying to shake all that off Monday. Shares are up 2.9%, while S&P 500 and Nasdaq futures are up 0.4% and 0.6%, respectively. FSD is short for Full-Self Driving and is Tesla’s top-level driver assistance software. As FSD improves, with the help of AI training, more people are likely to buy it. FSD costs $15,000 or can be paid for via a monthly subscription.
Tesla’s energy storage business has enjoyed strong momentum so far in 2023. The company has deployed 7.5 gigawatt-hours of battery storage in the first two quarters of 2023, up about 280% year over year.
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