From Nasdaq: 2024-05-03 05:24:00

Zacks Market Edge is a weekly podcast discussing hot investing topics in stocks, bonds, and ETFs hosted by Tracey Ryniec. This week focuses on Tesla’s recent performance, layoffs, and executive changes. With missed earnings and slow EV sales, Tesla’s stock is down 27.2% YTD – is it a buying opportunity or time to sell?

Despite Tesla’s extraordinary 964% gain in the last 5 years, recent performance has been weak with shares down 37.7% in the last 2 years. Analysts forecast a 32.5% rebound in 2025, but 7 earnings estimates for 2024 have been cut, lowering the Zacks Consensus to $2.48 and a forward P/E of 74.

Tesla’s Zacks Rank is a #5 (Strong Sell) due to the downward earnings revisions, prompting the question – buy more or sell now? Tune into the Zacks Market Edge podcast to explore Tesla’s 2024 outlook and consider Zacks’ top stock picks with significant historical gains.

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Read more at Nasdaq: Zacks Market Edge Highlights: Tesla