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Tesla Inc. (TSLA) shares saw a recovery on Monday, rising by 4.55% to $308.58, following a tumultuous week marked by a public feud between President Donald Trump and CEO Elon Musk. This followed a significant 13.8% decline in the previous week.
Investor Gary Black of Future Fund LLC, who predicted the stock was “oversold” during the decline, noted that the feud was expected to dissipate, especially with the imminent launch of Tesla’s Robotaxis on June 12. He suggested that both Musk and Trump have other pressing priorities, which could mitigate further conflict.
Despite concerns over Tesla’s high valuation, with a price-to-earnings ratio of 180x considered unsustainable by Black, other analysts exhibit mixed sentiments; Bill Selesky of Argus downgraded Tesla from “Buy” to “Hold” with a price target of $295.14, while Dan Ives of Wedbush continues to posit a bullish outlook, suggesting a potential market cap of $2 trillion by 2026.
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