Tesla (NASDAQ:TSLA) lost another 7% last week and is down more than 32% year-to-date, and many believe the stock will lose even more value.
Among the most prominent of these investors is Danny Moses, the head of Moses Ventures, who said last Thursday on CNBC that everything is collapsing in the company's core business, stressing that the company is directing everyone towards robots, artificial intelligence and autonomous driving.
Moses pointed to Musk's decision to cut the company's global workforce by more than 10%, Reuters' recent report on a Reuters investigation into Tesla's securities and cable fraud, and the uncertainty surrounding the robots, which are set to be introduced on August 8.
This movement associated with enthusiasm for robotics and artificial intelligence will fade over time. So, is the market cap worth $150 billion at a $50 share? That seems reasonable to me.
It is worth noting that a drop in Tesla shares to $50 would correspond to a drop of more than 70% from Friday's closing price.
However, not all analysts are as bearish as Moses on Tesla stock, with the 41 analysts following the stock targeting an average price of $181.73, or 7.8% above the current price.
InvestingPro's fair value analysis, which combines 12 recognized financial models, is slightly more bullish and forecasts $188.03, 11.6% above the current price.
However, Tesla stock may not be the stock that currently shows the most potential for investors interested in the technology sector, or simply looking for stocks that are likely to outperform the market.
In other words, investors interested in high-performing technology stocks would be better off looking for other opportunities.
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