The Tesla $TSLA (-9,97%) shares suffered another setback on Friday, falling by up to 4 %. This takes the losses from their record high to almost 50 %. After an initial post-election rally that electrified investors, the euphoria now seems to be fading. Respected analyst Dan Ives of Wedbush, considered by many to be the great Tesla advocate, described this phase as a 'good check moment' for fans of the company. It is a time for investors to pause and think about the future of the brand.
In his note to clients released on Thursday, Ives stated that 'the time has come' to defend the stock. He even added Tesla to his 'Best Ideas List' and reiterated his 'Outperform' rating with a price target of 550 dollars. However, this positive assessment is no coincidence. Thursday's 5.7% drop was heavily influenced by CEO Elon Musk's controversial ties to the Trump administration, which have significantly dampened sentiment around the stock. With a closing price of 479 dollars on December 17 and a current level of around 253 dollars at lunchtime, the picture has changed significantly.
Ives warns that negative sentiment and analyst concerns have often overshadowed Tesla's positive story in the past. Despite the political challenges and discussions surrounding Musk, Ives sees less than 5% of Tesla's global sales at risk. He is optimistic that Musk will better balance his time between his numerous commitments at DOGE and Tesla/SpaceX to get the company back on track.
In another exciting development, Onsemi has $ON (-4,14%) announced a takeover bid for Allegro MicroSystems to strengthen its market position in the semiconductor industry. While the exact terms and price of the acquisition have not yet been disclosed, this move could help Onsemi expand its product lineup and intensify competition in the fast-paced semiconductor industry. So far, there are no other significant events related to this acquisition, but the industry will be watching closely to see how this situation develops.
Sources:
https://finance.yahoo.com/m/8913ae97-52b6-3044-a06c-0dea6544e12a/onsemi-discloses-offer-to.html
