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

Banking
shares1 views

Saudi British Bank Launches Ripple-Powered Instant Cross-Border Transfer Service

Brian Evans - Apr 26, 2019

Saudi British Bank has launched an instant cross-border transfer service powered by Ripple

Crypto
shares2 views

Bitcoin Ban Blues? India Reportedly Weighs Draconian Law to Ban Cryptocurrency

Brian Evans - Apr 26, 2019

By CCN.com: The Indian government is working on a draft bill that would impose an outright ban on cryptocurrencies such as bitcoin, as reported by The Economic…

Adoption
shares2 views

CEO of Japanese Finance Giant SBI Appointed as Ripple Labs Executive

Brian Evans - Apr 26, 2019

Yoshitaka Kitao, CEO and representative director of Japanese financial services giant SBI Holdings, has been appointed as an executive of Ripple Labs Inc

Most from this category

%d bloggers like this: