Why Tesla Stock Fell Sharply Thursday

Why Tesla Stock Fell Sharply Thursday

Shares of Tesla (NASDAQ: TSLA) fell sharply on Thursday morning, declining about 5% shortly after the market opened. Citigroup analyst Itay Michaeli boosted his 12-month price target for the growth stock by more than 80% on Thursday. This is in response to Tesla's recently reported strong second-quarter deliveries, as well as operating expenses in 2020 that may be lower than his initial estimates for the year.