Despite a wider recovery in the US stock market, Tesla’s new year got off to a rocky start. The company’s stock plummeted, particularly after RBC Capital gave the electric vehicle maker’s shares a dreaded “sell” rating. Striking at the core of the matter, RBC Capital analyst Joseph Spak said: “It’s not that we don’t believe Tesla can grow over time, our model shows solid LT growth. But the current valuation already considers overly lofty expectations.” The analyst also credited Tesla for providing investors clarity on its production plans, but he said this move puts pressure on growth expectations, which makes it difficult

The post Why Asset Manager Canaccord Says Tesla Stock Will Explode by 40% in 2019 appeared first on CCN

You may be interested

shares8 views

ConsenSys-Backed Rhombus Reveals New Products for Ethereum Developers

Brian Evans - Feb 17, 2019

Connecting blockchain with real-world data, Consensys-backed ethereum startup Rhombus announces exclusive new tools for developers at hackathon ETHDenver.

shares9 views

The $232 Million ICO Debacle Continues as Tezos Community Opposes Class Action Lawsuit

Brian Evans - Feb 17, 2019

Tim Draper-endorsed blockchain Tezos is the subject of a consolidated class action lawsuit brought by unsavory individuals. A group of Tezos community members believes the lawsuit is…

shares10 views

GAS Price Gains 40% yet no one can Explain why

Brian Evans - Feb 17, 2019

Weekends often result in unusual phenomena where cryptocurrency trading is concerned. Several markets have risen by over 30% in value today, even though there is zero reason…

Most from this category

%d bloggers like this: