Tesla bull Daniel Ives of Wedbush cut his price target by 43%, according to Bloomberg. Ives cited Elon Musk’s polarizing image and Trump’s trade war with China. Ives said Tesla has become a global political symbol and urged Elon Musk to show leadership during a time of uncertainty. He lowered his target from $550 to nearly $300. Ives estimates Tesla has lost at least 10% of its future global customer base due to brand damage. Shares have dropped 50% since their December peak.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Tesla bull Daniel Ives of Wedbush cut his price target by 43% according to Bloomberg.
00:07Ives cited Elon Musk's polarizing image and Trump's trade war with China.
00:11Ives said Tesla has become a global political symbol and urged Elon Musk to show leadership
00:16during a time of uncertainty. He lowered his target from $550 to nearly $300.
00:21Ives estimates Tesla has lost at least 10% of its future global customer base due to brand damage.
00:27Shares have dropped 50% since their December peak.
00:30For all things money, visit Benzinga.com slash GSTV.