The financial analyst has set a price target for Tesla at $298 per share, indicating a potential increase of over 80%. He also follows other automotive companies like Ferrari and the Mercedes-Benz Group.
His most successful trade to date involved Mercedes-Benz, which yielded a return of 249.10% from April 2020 to April 2021. However, Tesla experienced a significant decline of 5.59% in its shares on Monday, attributed to the news of company layoffs and the departure of two key executives.
This layoff represents the largest reduction in the company’s workforce thus far. Elon Musk expressed gratitude to the departing executives via the social media platform X.
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