On May 12, US stocks continued to decline at the opening, and the decline of the NASDAQ index expanded to 2% Tesla's share price fell nearly 5% to $680, the first time the stock has fallen below the $700 Mark since late August last year Just two days ago, on May 10, Tesla fell below $800, and now it quickly fell below $700, down nearly 44% from an all-time high.
But then Tesla's share price rebounded. As of press time, the latest share price was $740.
Today, Wells Fargo lowered Tesla's target share price from $960 to $900, which also means that Wells Fargo believes that the current Tesla share price is low.
In addition, Michael Hartnett, chief investment strategist of Bank of America global research, pointed out in a report on Friday that US stock investors will experience inflation, interest rate and recession shocks for most of 2022, which will lead to negative returns and greater volatility.