Nasdaq TSLA Tesla

A downright persistent market rally kept its mojo into a new week, with the major indexes again making a slow grind upward to all-time highs Monday.

As has been proven many times before, an Elon Musk tweet is a powerful tool. On the weekend the unpredictable Tesla (TSLA) CEO determined a Twitter poll’s outcome would decide whether he should sell a 10% stake in the company. This was Musk’s way of addressing the debate around unrealized gains being a way to avoid paying taxes. By the way, the answer from Musk’s gazillion followers was ‘yes,’ to which the market said, ‘oh no’ and sent shares down early on Monday.

The latest Musk-centered media storm is likely to swiftly fade until the next one appears, possibly as early as this evening. In the meantime, its best to focus on Tesla’s fundamentals, and here Wedbush’s Daniel Ives believes things are only heading in one direction.

“Two fundamental changes have occurred to the Tesla story,” the 5-star analyst said. “1) the margin story coming out of 3Q earnings speaks to the massive leverage taking hold into 2022/2023, and 2) Hertz/Uber deal was a tipping point highlighting more mainstream adoption of EVs and a rental market that could be another 200k-300k cars delivered annually for Tesla as others follow Hertz's lead.”

As ever, though, the key element in the Tesla story remains China, which the analyst estimates will be the source of 40% of the EV maker’s 2022 deliveries. It has been far from smooth sailing in this most important of regions, but the company has managed to turnaround significant PR/safety headwinds from earlier in the year, and is now on track to see out 2021 on a ~50,000 monthly run-rate for China in Q4 that could “ramp further into early 2022.”

Tesla also has a “high class problem” of demand outstripping supply. But this will be addressed shortly when the long-awaited gigafactories open in Austin and Berlin and will help “alleviate” the bottlenecks of production felt across the globe.

The growing demand amid expectations EVs are set to make significant inroads over the next several years are why Ives raised his bull case price target to $1,800 (from $1,500) although the base case target remains at $1,100, which is actually 6% below the current trading price. (To watch Ives’ track record, click here)

Ives is one of the most prominent Tesla bulls on Wall Street, and the fact his price target indicates shares are overvalued is telling; Going by the Street’s $863.75 average target, the stock will slide by 26% over the coming months. The analyst consensus rates the stock a Hold, based on 10 Buys, and 6 Holds and Sells, each. (See Tesla stock analysis on TipRanks)

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

Wall Street stocks ended slightly higher on Monday, gaining early in the day as investors cheered passage of a U.S. infrastructure spending bill, but paring gains late as sliding Tesla shares weighed the indexes down.

Four astronauts who arrived at the International Space Station in April for a long-duration science mission began their return voyage to Earth on Monday as their SpaceX Crew Dragon capsule separated from the orbiting laboratory for a flight home.

Wall Street stocks edged higher on Monday, as investors cheered the passage of a U.S. infrastructure spending bill, but gains were limited by falling Tesla shares.

Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Tesla Inc (Symbol: TSLA), where a total of 1.0 million contracts have traded so far, representing approximately 102.5 million underlying shares. That amounts to about 34

The Dow hit a record high on Monday as the passage of a $1 trillion infrastructure bill lifted industrials, materials and other economy-focused sectors, while Tesla fell on top boss Elon Musk's plan to sell about a tenth of his stake.

After years of raging bull market conditions, many Americans will be sitting on large unrealized capital gains in their mutual fund portfolios.That's a good thing, of course, but those gains do carry significant tax risks. And they are risks you can't necessarily control.

World shares extended near-record highs on Monday as risk assets found support from an upbeat U.S. October payrolls report and investors faced positive readings on U.S. inflation ahead of more detailed consumer prices this week.

In early trading on Monday, shares of Trip.com Group topped the list of the day's best performing components of the Nasdaq 100 index, trading up 3.4%. Year to date, Trip.com Group has lost about 7.4% of its value.

In early trading on Monday, shares of Viatris topped the list of the day's best performing components of the S&P 500 index, trading up 5.6%. Year to date, Viatris has lost about 22.6% of its value.

What happened Shares of Tesla (NASDAQ: TSLA) dipped on Monday, falling as much as 7.3%. As of 10:20 a.m. EST, the stock was down about 3%.

The Dow hit a record high on Monday as the passage of a $1 trillion infrastructure bill lifted industrials, materials and other economy-focused sectors, while Tesla fell on top boss Elon Musk's plan to sell about a tenth of his stake.

The stock market is an exciting place filled with innovative companies reshaping our future. History shows that a long-term approach to the market yields the best returns, evidenced by the 3,700% rise in the broad S&P 500 index over the last 40 years.But this pales in compari

U.S. stock index futures edged higher on Monday as big industrial firms were supported by the passage of a $1 trillion infrastructure bill, while Tesla fell on Chief Executive Elon Musk's plan to sell about a tenth of his stake.

I've been picking stocks to avoid every week, identifying names that I think could be challenged in the coming days. My three stocks to avoid last week were on the move -- down 17%, down 13%, and up 6% -- averaging out to an 8% decline.

The NASDAQ 100 Pre-Market Indicator is up 6.56 to 16,365.94. The total Pre-Market volume is currently 43,267,086 shares traded.The following are the most active stocks for the pre-market session: New Oriental Education & Technology Group, Inc. (EDU) is +0.16 at $2.20, with 3

After taking on billions in debt to weather the 2020 economic storms of COVID-19, Ford (NYSE: F) announced on Nov. 4 that it's freeing itself from approximately $5 billion worth of junk bonds through an upcoming buyback. The bonds helped save Ford's bacon when the U.S. government

What happened Electric vehicle (EV) stocks have been all over the news in recent weeks, but Lucid Group (NASDAQ: LCID) stumped everyone with the kind of attention it received: Its shares surged a whopping 45.7% October, according to data provided by S&P Global Market Intellig

Stock Market Futures Edging Up After Record Close On FridayU.S. stock futures are rising marginally in early morning Monday following a better-than-expected October jobs report. U.S. payrolls added 531,000 jobs last month, according to the Labor Department. Friday’s report