Tesla (NASDAQ:TSLA) stock is in the news as price predictions continue to be a hot topic among traders after Elon Musk’s Twitter purchase.
Musk originally revealed his intentions to purchase Twitter for $54.20 per share back in April. At that time, it was also noted that the new company leader would sell some of his stake in TSLA stock to help fund the purchase.
When that news was announced, shares of TSLA stock took a major beating. In the months following TSLA’s price did start to recover. That came as legal troubles and other issues made it seem like Musk might not move forward with the deal.
However, Twitter sought to force Musk to comply with the purchase agreement. That resulted in him acquiring the social media company for $44 billion. Since then, shares of TSLA stock have continued to lose value.
Where Is TSLA Stock Heading Next?
Analysts have been weighing in on Tesla stock lately. Let’s go over a few of the recent TSLA stock price predictions below!
- RBC cut its price target for Tesla from $325 to $225 per share.
- Goldman Sachs dropped its price target for TSLA stock from $305 to $235 per share.
- The average consensus price target for TSLA shares is sitting at $281, as compared to its peak of $330 per share in April.
TSLA stock is down 60.7% year-to-date.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.