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The US stock market has been a struggle for a host of companies since the start of the year. However, few have had as hard a time as Tesla (TSLA), which is set to face its 9th consecutive week drop if a reversal doesn’t kick off today. The company has struggled amid the dual responsibility of CEO Elon Musk.
Since late 2024, Musk has showcased full commitment to the current presidential administration. Indeed, he has headed US President Donald Trump’s DOGE commission to slash government spending. However, his work and various aspects of his public presence have led to a consumer revolt against the company. Subsequently, all eyes are on its ability to fend off that action this week.
Also Read: Tesla (TSLA) Wipes Away US Election Gains, Falls Another 15%
In less than three months, the US stock market has struggled mightily. Increased financial uncertainty has greatly affected the nation, with geopolitical tension only driving the concern. There is perhaps no greater sector displaying that uneasy feeling than Wall Street itself.
One company that has been crushed by the downturn is Tesla (TSLA), which is looking down the barrel of its 9th consecutive week of losses. However, some are expecting a turnaround for the EV manufacturer. Just one week ago, it was TD Cowen who projected that the company could surge 45% from its falling position.
Also Read: Tesla (TSLA) Stock May Get Boost From Trump Tariffs: Here’s How
Things have not gotten off to the strongest start on Monday. By the midpoint of the day, the company would plummet more than 6%. Moreover, it would fall backward from the gains it experienced with Donald Trump’s endorsement of the brand. Indeed, it wasn’t enough to rebound from the ongoing consumer anger of certain Musk behaviors in recent weeks.
There is still hope for Tesla. The company is looking to become far more than just an EV firm. Indeed, it is looking to become a robotics brand, with its eyes on autonomous driving vehicles and the Optimus robot. That is why the company still has a median price target of $390, according to CNN.
Moreover, it currently has a high-end projection of $1,000, according to experts. That would see the stock jump more than 328% from its current position. Although hard to see now, it is certainly not out of the question. Even amid its fall, more than 48% of 58 surveyed analysts have a buy rating on the company.
