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Message: [QUOTE="Munyaradzi Mafaro, post: 31395, member: 636"] JPMorgan still thinks Tesla shares will drop. Today, they rated the car maker "Underweight" with a price goal of $120, which sits way below where Tesla trades right now. The bank points to "brand damage" they never saw before. Tesla only delivered 355,041 cars last quarter, matching what JPMorgan feared would happen at worst. The bank asked if they missed how many people turned against Tesla because of Elon Musk's political work. Other market watchers think factory changes hurt Tesla's delivery numbers. Tesla stock jumped 5% when news hinted Musk might quit his government job. Then it fell 3.5% after he said the news was wrong. Yesterday, things got worse, as shares fell 6.6% before trading started. JPMorgan cut their profit guess for Tesla to $0.36 from $0.40 for this quarter. They also expect fewer cars sold going forward. The bank thinks Tesla will deliver 404,000 cars next quarter instead of 418,000 as first thought. For the full year, they see 1,715,000 cars instead of 1,775,000. The bank still believes Tesla stock should trade at $120 by year end. Tesla shares keep falling because of weak car sales numbers. No one knows exactly how President Trump's trade rules will hit Tesla yet. Market drops happened today after China fought back with its trade rules. Many experts claim Tesla can handle these trade fights better than most companies. But Tesla's letter to trade officials shows they expect some hard times ahead. Several experts say you must consider Tesla's self-driving system and robot projects when considering its future success. The question remains if Tesla can keep charging high prices for its driving help system. Many car makers offer cheaper systems that help drivers, making it harder for Tesla to keep customers. The company faces tough roads ahead with falling car sales and new rivals in its key side businesses. [/QUOTE]

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