Elon Musk must do these 10 things to turn Tesla stock around in 2023, says Wedbush's Dan Ives
Elon Musk must take 10 steps to bring about a turnaround in Tesla stock in 2023, according to Wedbush analyst Dan Ives.
Shares have tumbled more than 60% in 2022 amid Musk's takeover of Twitter, sales of his Tesla holdings to fund Twitter, the Federal Reserve's rate hikes, and slowing demand. In a Wednesday note, Ives said that while his firm remains bullish on Tesla over the long-term with a price target of $175 over the next 12 months,"MuskHere is his list of to-do's for Musk in 2023: Stop his personal sales of Tesla stock and formally adopt a 10b5-1 plan"so investors know there is no major selling block around the corner as Musk sold roughly $40 billion of TSLA stock the past year."Present investors a more conservative delivery target for Tesla EVs.
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