Reply To: Tesla Used Cars the Last Domino to Fall in Stock and Branding Rout

#50628
TradersCom
Keymaster

Bernstein analyst Toni Sacconaghi noted Tesla (TSLA) is “facing a significant demand problem” into 2023.

“We expect demand challenges to persist into 2023, particularly since no Tesla models appear to qualify for any IRA rebates except the 7-seat Model Y,” he explained. “We believe Tesla will either need to reduce its growth targets (and run factories below capacity) or sustain and potentially increase price cuts globally, pressuring margins.”

Sacconaghi said he was “torn” on the stock given its stark slide into the close of 2022, he maintained an “Underperform” rating on the stock.