Connect with us

Hi, what are you looking for?

Oracle of  Omaha Says – Investing and Stock NewsOracle of  Omaha Says – Investing and Stock News

Editor's Pick

Tesla annual shareholder meeting 2023: does it warrant buying stock?

Tesla Inc (NASDAQ: TSLA) is in focus late on Tuesday after CEO Elon Musk confirmed that the electric vehicles company will start delivering Cybertrucks “later this year”.

Tesla annual shareholder meeting recap

The billionaire also made other notable comments at the annual shareholder meeting today. For one, he said the Tesla Model Y will beat every other vehicle on Earth to become the “best-selling car” this year.

Musk also signalled that the EV giant is now ready to test a bit of traditional advertising. So far, Tesla has relied entirely on word-of-mouth, influencer marketing, and other non-conventional means of advertising.

The Chief Executive expects the economic backdrop to remain challenging over the next twelve months. From there on, though, he forecasts a recovery and sees Tesla Inc as well-positioned to benefit from it.

Should you buy Tesla stock today?

Tesla stock is currently down more than 20% versus its year-to-date high which could be a great opportunity to build a position considering CFRA analyst Garrett Nelson continues to dub it a “strong buy”.

They’re on track with first production of Cybertruck, breaking ground on the new factory in Mexico. We think they’ll introduce a mass-market lower priced Coupe in 2024. So, there’s plenty of near-term catalysts.

Shares of Tesla are all the more attractive now that Elon Musk has hired a new CEO for Twitter. Nelson sees upside in this stock to $250 that suggests it could climb roughly 30% from here.

Other reasons to have “TSLA” in your portfolio include the company’s energy storage business, he concluded on CNBC’s “Squawk on the Street”.  

The post Tesla annual shareholder meeting 2023: does it warrant buying stock? appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Everynet, one of the world’s largest network operators for national LoRaWAN® networks, announces it is working with Amazon Web Services (AWS) to offer long-range...


    As more candidates throw their hats into the 2024 Presidential ring, I’d like to offer a proposal that should have immediate bipartisan support: stop...

    Editor's Pick

    The Internet of Things (IoT) is changing the way we interact with technology, and it has the potential to revolutionize the way we manage...

    Editor's Pick

    Semtech Corporation and esteemed engineering design services firm, Connected Development, today announced the launch of the new XCVR Development Board and Reference Design integrating...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023