Tesla has been facing a host of problems, including Musk’s shift in approach to Twitter and China’s return to the restrictions of its zero COVID policy. Add to that supply chain woes, rising raw material costs and buyers feeling the pressure of runaway inflation and rising interest rates.
Still, many analysts are sticking with their bullish bets; 27 of them recommend buying the shares, while 11 recommend holding them and seven recommend selling them. The most bullish bet has a $530 price target, according to data compiled by Bloomberg.
This year’s decline has left Tesla’s market capitalization just above $530 billion, a far cry from April’s $1 trillion.
