Tesla Stock Surges Tuesday After Major Sell-Off

Key Takeaways

Tesla (

TSLA

) shares gained Tuesday, after
losing more than 15%
of their value a day earlier.

The
Elon Musk
-led electric vehicle company’s stock was up nearly 5% to $232.70 intraday, making back a small fraction of what it’s lost amid an
extended sell-off
since President Trump took office. The stock is on pace to fall for the eighth consecutive week, even after the uptick on Tuesday.

Tesla’s stock price had surged to a
record close
of $479.86 about a month after Trump’s election victory, but since Musk started working in the cost-cutting
Department of Government Efficiency
in January, the EV maker’s shares have lost almost half their value. Recent losses have come amid worries about
slowing sales
in China and
declining registrations
in Europe, as well as widespread
market uncertainty
about tariffs.

However, Tesla’s precipitous slide could be an opportunity for investors to
buy low
, analysts at Morgan Stanley told clients Monday. The analysts reiterated a price target of $430, calling Tesla its “top pick” among U.S. automakers, bolstered by artificial intelligence and robotics potential. The consensus
price target
for Tesla stock is about $366 among analysts who follow Tesla and are tracked by Visible Alpha.

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