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Tesla Daily: Tesla News & Analysis

Analysts Reduce Targets, China Sales, Germany, Twitter, Rivian (10.10.22)

Tesla Daily: Tesla News & Analysis

Rob Maurer

Tech News, Technology, News

4.81.1K Ratings

🗓️ 11 October 2022

⏱️ 12 minutes

🧾️ Download transcript

Summary

➤ Analysts lower price targets, Morgan Stanley comments on demand destruction
➤ Twitter acquisition update
➤ China wholesale sales for September
➤ Tesla Model Y tops sales chart in September
➤ Musk comments on FSD Beta
➤ Rivian recalls most vehicles

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Executive producer Jeremy Cooke
Executive producer Troy Cherasaro
Executive producer Andre/Maria Kent
Executive producer Jessie Chimni
Executive producer Michael Pastrone
Executive producer Richard Del Maestro
Executive producer John Beans
Music by Evan Schaeffer

Disclosure: Rob Maurer is long TSLA stock & derivatives

Transcript

Click on a timestamp to play from that location

0:00.0

Hey everybody, we're out of now and we're here. Welcome back to Tesla Daily. Today we're

0:10.5

going to be talking about a handful of analyst updates on Tesla stock. Also got some sales

0:14.6

reporting out of China just wholesale sales at this point. But we'll take a look at

0:17.7

those numbers. Also got some sales reporting out of Germany. Check in on Twitter and

0:21.8

a couple other items as well. All right. So looking at the stock, even though the analyst

0:25.4

notes that we're going to talk about here in a second, we're all price target decreases

0:29.1

from their previous price targets. Tesla today still with a pretty decent outperformance

0:33.0

basically finishing flat on the day down 0.05%. Too close at 222.96. A NASDAQ was down

0:39.3

1%. That is a new low for the year. And in fact, the lowest price that the NASDAQ has hit

0:43.9

since July 2020. So over two years could be a volatile week this week, of course, with

0:48.6

the producer price index and consumer price index coming on Wednesday and Thursday mornings

0:52.0

respectively. We've also got the meeting minutes from the last FOMC meeting coming out on

0:55.9

Wednesday. And even though those are multiple weeks old at this point in time, always seem

0:59.4

to cause some sort of a reaction. We did have some comments today from FOMC vice chair,

1:04.0

Leo Brainer. She said that the interest rate hikes that we have seen so far are still

1:07.5

going to be working their way through the economy. So I'm going to maybe interpret that

1:10.8

as more dovish or indicative of slower rate hikes or less of a significant peak. But I mean,

1:16.5

we've seen throughout the year that their expectations as we move through this haven't

1:20.1

really meant a whole lot. They're going to continue to increase rates until rate policies

1:23.8

in a more restrictive place. I think once they're in that place, that'll give them

1:27.4

more patience to see how things end up flushing through one more item while we are on

1:31.8

more broad topics here. Just to check in Twitter stock was up about two and a half percent

...

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