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Stock impact report

Tesla shares drop amid auto tariffs and ‘brand crisis' [Los Angeles Times (CA)]

Stellantis N.V. Common Shares (STLA) 
Wedbush Securities analyst Dan Ives cut his price target from $550 to $315 over the weekend while maintaining his “outperform” rating of the stock. Shares dipped as low as $216 Monday morning, a more than 9% drop. They closed at $233.29 Monday afternoon, down 2.5% for the day. U.S. Commerce Secretary Howard Lutnick urged Fox News viewers to buy Tesla shares last month, declaring that the shares would “never be this cheap again” when they closed at $235.86 on March 19. The next day, Musk encouraged Tesla employees to “hang on” to their stock at an all-hands meeting. Shares have plunged nearly 40% since the beginning of the year and have fallen 55% from a record high in December. The stock soared with Trump's victory over Kamala Harris in November's presidential election, as many believed Musk's association with the president-elect would bolster Tesla's value. However, Musk's controversial role in the Trump administration has created a “brand crisis” for his electric vehicle co Show less Read more
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