Posted 9/18/2023, 5:19:00 PM

Tesla Stock Slips as Goldman Cuts Profit View on Price Cuts, Musk Denies Saudi Factory Talks

Goldman Sachs cuts Tesla profit outlook for 2023-2024 on lower expected margins.
Tesla stock falls 3% as analysts expect continued price cuts to impact profits.
CEO Elon Musk denies reports Tesla is in talks to build factory in Saudi Arabia.
Tesla stock forming new base with 299 buy point; pulled back to 10-day line Monday.
Cathie Wood's Ark Invest continues selling TSLA shares as automaker battles EV price war.

investors.com

Relevant topic timeline:

8/21/2023

There's an underlying trend that's making the Fed's job easier, Wharton's Jeremy Siegel says

Goldman Sachs predicts that 6 stocks in the electric vehicle industry will outperform despite fierce competition, and Nvidia and Powell's speech will be key factors in the market next week.

8/29/2023

NIO in charts:Q2 deliveries disappoint amid shift in market preference to Sedans from SUVs

Tesla is predicted to reach a value of $1.00 by the end of the year, and despite mixed opinions on its quality, it is seen as a dominant force in the automotive industry similar to other successful tech companies like Apple, Nvidia, Google, Amazon, and Microsoft.

9/1/2023

Tesla Finally Raised Prices. Why the Stock Is Tumbling.

Tesla has raised prices on a key model after previously lowering them, causing the stock to tumble.

9/5/2023

Goldman Sachs cuts chances of US recession in next one year to 15%

Goldman Sachs has lowered its probability of a U.S recession in the next 12 months to 15% due to positive inflation and labor market data, while also predicting a reacceleration in real disposable income and expecting the Federal Reserve to keep interest rates unchanged.

9/6/2023

Tesla Stock Is Down. It Might Be the Market, It Might Be Munich.

Tesla stock experienced a decline, potentially due to market conditions or factors related to Munich.

9/8/2023

Goldman Sachs Planning Another Round of Job Cuts in Late October, Aiming to Trim Underperforming Staff

Goldman Sachs is planning to cut jobs for underperforming employees, targeting a lower percentage of layoffs in its investment banking and trading divisions.

9/14/2023

Tesla Boosts Sales With Price Cuts But Squeezes Margins, Raising Questions About Future Profit Growth

Tesla's emphasis on price cuts to drive sales growth may hinder its ability to achieve higher margins and long-term profitability, leading Needham analyst Chris Pierce to have a "Hold" rating on the stock and believe that the company is on a path to becoming a mass-market OEM at a faster pace than previously expected.

9/18/2023

Goldman Sachs Sees Margin Pressure for Tesla Ahead Despite Growth Potential

Despite Tesla's record deliveries in the second quarter, the series of price cuts have impacted margins and Goldman Sachs analyst Mark Delaney expects Tesla to continue slashing prices in 2024 to support higher volumes, resulting in lower vehicle sales than previously anticipated in Q3 and reduced EPS estimates for 2023 and 2024.

9/22/2023

Tesla Stock Could Rally if Q3 Deliveries Beat Barclays' Conservative Forecast

Tesla's stock fell after Barclays predicted that the company would fall short of delivery expectations, with analysts forecasting third-quarter deliveries of 455,000 units compared to the consensus forecast of 463,000 units.

9/22/2023

Tesla Stock Drops as China Sales Plummet 90% in August

Tesla stock is experiencing a decline due to the impact of China.