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Electric vehicle giant Tesla, Inc.‘s (NASDAQ:TSLA) shares have been rangebound below the $200 level for much of this year, a far cry from its all-time high of $414.50 (intraday) reached on Nov. 4, 2021. A bullish analyst on Monday shared a few key catalysts that will pan out over the next two months and could prove to be stock-moving.
What Happened: As the stock languishes amid the company’s fundamental woes, Future Fund’s Gary Black listed the following events as key catalysts:
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Why It’s Important: The demand environment for EVs is unlikely to improve in the near term, given higher interest rates, which is one of the pushbacks, is likely to continue for some time. The Federal Reserve has shown no inclination to reverse its rate hikes until inflation cools back below its 2% target.
In China, Tesla is facing intensive pressure. The latest monthly sales report from domestic upstarts such as Nio, Inc. (NYSE:NIO) showed robust numbers as they have lock-stepped with Tesla’s price cuts and promotions. On top of it, they have diverse product offerings, catering to all market segments.
As Tesla continues with discounts and promotions, it remains to be seen whether margins will see any appreciable uplift.
The task before Tesla is now cut out. The company has to expeditiously roll out FSD in an unsupervised form, which is important for the launch of robotaxis as well as for raking in recurring high-margin revenue. But this appears easier said than done, given the mounting skepticism regarding the self-driving software package’s efficacy and safety and the regulatory hurdle. Alternatively, the company can woo ICE vehicle users with a low-end model from its stable,
In premarket trading on Tuesday, Tesla edged up 0.4% to $176.36, according to Benzinga Pro data.