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Brokers cut price target on Tesla shares

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2 years ago

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Tesla shares fell nearly six per cent after a string of brokerages cut their price targets on the electric-vehicle maker’s stock, and they’re blaming Elon Musk’s Twitter distraction.

As a result, Tesla’s shares hit a more than two-year low.

Analysts say investors are worried that Musk may need to sell shares further to fund Twitter and sentiment around the acquisition of the social media firm could hurt the EV maker’s brand.

One major brokerage slashed its price target on the company’s shares by a third, saying investors fear damage to the Tesla brand.

The price target cuts come ahead of Tesla’s quarterly deliveries report expected in early January amid weakening demand in China.

Meanwhile, reports today that Musk is actively searching for a new chief executive officer for Twitter, following his poll about whether he should step down as Twitter CEO.

Musk and Twitter are yet to respond.

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What to expect for IPO markets

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9 hours ago

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September 13, 2024

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With high interest rates and geopolitical uncertainty–what’s in store for IPO markets?

As the second half of 2024 begins, the IPO market is poised for a potential rebound after a sluggish start to the year.

With improving economic conditions and renewed investor confidence, more companies seem to be considering going public, creating market optimism.

However, challenges such as inflation and geopolitical uncertainties remain key factors to watch.

Dean Quiambao, a partner at Armanino joins Veronica Dudo to discuss what experts are predicting for the IPO landscape in the coming months and how businesses are positioning themselves for success.

#IN AMERICA TODAY #trending #IPO #IPOmarkets #ratecuts

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ASX positioned for strong start after positive stock rebound

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3 days ago

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September 10, 2024

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The ASX is set for a solid opening today, bolstered by overnight gains in the banking, commodities, and energy sectors.

Despite these positive movements, analysts are suggesting that the stock rebound and bond decline appear to be technically driven, noting that it may not mark the beginning of a longer-term trend.

Market analyst David Scutt from StoneX joins to discuss the latest market movements. #featured #trending

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Elon Musk is projected to become the world’s first trillionaire

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4 days ago

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September 9, 2024

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Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, is projected to achieve an unprecedented financial milestone by becoming the world’s first trillionaire by 2027.

Currently the richest person alive, Musk holds a staggering net worth of $251 billion, with Tesla playing a major role in his fortune.

At this rate, experts predict his wealth could skyrocket, reaching the trillion-dollar milestone in just three years.

Tesla itself is growing at a remarkable pace, with a market value nearing $670 billion. #featured #trending

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