Why Tesla Stock Fell Again Today

Why Tesla Stock Fell Again Today
·3 min read

Shares of electric vehicle (EV) kingpin Tesla (NASDAQ: TSLA) dropped sharply in Wednesday early afternoon trading, falling 5.2% through 12:10 p.m. ET. You can blame two Wall Street analysts for that drop: Piper Sandler and France's Exane BNP Paribas. In twin reports this morning, first Piper Sandler cut its price target on Tesla to $1,035 per share (but maintained its overweight rating), and then Exane BNP Paribas cut its price target on Tesla to $600, and reiterated its underperform (i.e., sell) rating.