Tesla Daily: Tesla News & Analysis
Analyst Initiation, UAW Pressure, Highland Production, Musk/Lex, SpaceX (11.09.23)
Nov 10, 2023
The podcast covers topics such as Tesla's stock fall after analyst initiation, President Biden's support for UAW unionization, Tesla's production numbers for October, Tesla's expansion into Chile, Elon Musk's interview with Lex Fridman, Tesla's recalls of Model S/X vehicles, Tesla's Chicago service center plans, Polestar and Volkswagen updates, and SpaceX's progress with the Starship.
15:50
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Quick takeaways
- HSBC initiates coverage of Tesla with a sell rating, stating that the market is overvaluing the company and success may take longer than anticipated.
- Tesla's production numbers in China for October show positive results, with the highest vehicle production since April, particularly in Model 3 production and exports to Europe.
Deep dives
HSBC initiates coverage of Tesla with a sell rating and $146 price target
Today, HSBC, the largest bank in Europe, initiated coverage of Tesla with a sell rating and a $146 price target. The initiation of coverage is considered significant and likely contributed to Tesla's stock decline of about 5.25%. The 100-page note from HSBC highlighted that while they see considerable potential in Tesla's prospects, they believe the market is overvaluing the company and that the timeline for success may be longer than anticipated.
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