On February 8, 2025, RBC Capital updated its grade for Tesla (NASDAQ: TSLA) to "Mixed," maintaining a "hold" action. At the time of this announcement, Tesla's stock price was $357.36. Tesla, a leading electric vehicle manufacturer, has been a focal point in the automotive industry, known for its innovative technology and ambitious growth plans. Despite its prominence, Tesla faces competition from other automakers venturing into the electric vehicle market.
Cathie Wood, the portfolio manager of Ark Investment Management, has recently adjusted her investment strategy, reducing her interest in Tesla. Ark Invest's 13F holdings report for the fourth quarter shows net assets of $12 billion across 183 stocks, with technology stocks making up about half of these assets. Despite challenges, Wood's ARK Innovation ETF has risen 12.5% through February 5, 2025, as highlighted by the report.
Tesla's stock has struggled to regain the $400 mark, with a recent decline of over 3% as of January 7, 2025. Year-to-date, the stock has decreased by 4.6%. Gordon Johnson, CEO of GLJ Research, has expressed concerns about Tesla's future, citing declining sales in key markets and an unsustainable valuation. He suggests that Tesla's stock might have already declined if Kamala Harris had won the 2024 election, as noted in his February 7 post.
The involvement of Elon Musk's Department of Government Efficiency (DOGE) with the Trump administration has also impacted Tesla's stock performance. Cathie Wood discussed Musk's management of his responsibilities and federal government engagement in a YouTube discussion with Julie Hyman and Josh Lipton. This involvement has contributed to the stock's recent decline.
Tesla's current trading price of $357.36 reflects a decrease of 4.53%, with a price drop of $16.96. The stock has seen a low of $357.32 and a high of $380.55 in today's trading. Over the past year, Tesla's stock has reached a high of $488.54 and a low of $138.80. The company's market capitalization is approximately $1.15 trillion, with a trading volume of 67.75 million shares.
