{"id":848,"date":"2023-12-17T09:36:17","date_gmt":"2023-12-17T09:36:17","guid":{"rendered":"https:\/\/muskmarketalert.com\/?p=848"},"modified":"2023-12-17T09:36:17","modified_gmt":"2023-12-17T09:36:17","slug":"why-did-teslas-stock-surge-amid-a-massive-2-million-car-recall","status":"publish","type":"post","link":"https:\/\/muskmarketalert.com\/why-did-teslas-stock-surge-amid-a-massive-2-million-car-recall\/","title":{"rendered":"Why Did Tesla’s Stock Surge Amid a Massive 2 Million Car Recall?"},"content":{"rendered":"

Tesla’s stock rises despite recall of 2 million vehicles<\/a>, as Wall Street remains optimistic about its future
\nSurprising Stock Surge After Tesla Recall Announcement<\/strong><\/p>\n

In a remarkable turn of events, Tesla’s (NASDAQ:TSLA) stock price climbed following the National Highway Traffic Safety Administration’s (NHTSA) recall of over two million electric vehicles sold in the U.S. This number, as reported by AP, includes nearly all Tesla vehicles ever sold in the country.<\/p>\n

NHTSA’s Findings on Tesla’s Autopilot System<\/strong><\/h3>\n

The NHTSA’s two-year investigation concluded that Tesla\u2019s Autopilot system is flawed and requires enhancements. This includes new software for heightened driver alertness and restrictions on Autopilot use under certain conditions. The recall covers all Model S, 3, X, and Y EVs sold between October 5, 2012, and December 7, 2023.<\/p>\n

Wall Street’s Nonchalant Attitude Towards Recall<\/strong><\/h3>\n

Despite the serious nature of the recall, Wall Street’s response has been surprisingly muted. Morgan Stanley analyst Adam Jonas, known for his favorable stance on Tesla, downplayed the NHTSA news in a recent report, providing insights for investors.<\/p>\n

Adam Jonas’s Perspective: A Minor Hurdle for Tesla<\/strong><\/h3>\n

Jonas argues that for a software-centric product like Tesla’s EVs, recalls are essentially just software updates. He highlights the efficient and low-touch nature of Tesla’s update process, predicting no significant financial impact on Tesla in fiscal 2024. Jonas even suggests that this could be a disguised blessing, possibly accelerating the development of Tesla’s Full Self Driving software.<\/p>\n

Jonas’s Bullish Stance on Tesla’s Stock Value<\/strong><\/h3>\n

Jonas seized the opportunity to reaffirm his belief in Tesla’s high stock value, suggesting a target of $380 per share, which he rates as Overweight (Buy). He breaks down Tesla\u2019s valuation into six segments: the core automotive business, a future autonomous car business, parts and technology supply, solar and energy storage, car insurance, and network services.<\/p>\n

The Street’s Mixed Opinions on Tesla’s Valuation<\/p>\n

While Jonas remains optimistic, the overall market sentiment is more cautious. Based on analyst ratings, Tesla holds a consensus rating of Hold. Recent stock price gains have led some to believe that Tesla\u2019s stock is currently overvalued, with a potential downside in the next 12 months.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tesla’s stock rises despite recall of 2 million vehicles, as Wall Street remains optimistic about its future<\/p>\n","protected":false},"author":1,"featured_media":849,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[12,13],"tags":[],"yoast_head":"\nWhy Did Tesla's Stock Surge Amid a Massive 2 Million Car Recall? - muskmarketalert.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/muskmarketalert.com\/why-did-teslas-stock-surge-amid-a-massive-2-million-car-recall\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Did Tesla's Stock Surge Amid a Massive 2 Million Car Recall? - muskmarketalert.com\" \/>\n<meta property=\"og:description\" content=\"Tesla’s stock rises despite recall of 2 million vehicles, as Wall Street remains optimistic about its future\" \/>\n<meta property=\"og:url\" content=\"https:\/\/muskmarketalert.com\/why-did-teslas-stock-surge-amid-a-massive-2-million-car-recall\/\" \/>\n<meta property=\"og:site_name\" content=\"muskmarketalert.com\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-17T09:36:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/muskmarketalert.com\/wp-content\/uploads\/2023\/12\/Tesla-store-002.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"976\" \/>\n\t<meta property=\"og:image:height\" content=\"549\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Musk Market Alert\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Musk Market Alert\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/muskmarketalert.com\/why-did-teslas-stock-surge-amid-a-massive-2-million-car-recall\/\",\"url\":\"https:\/\/muskmarketalert.com\/why-did-teslas-stock-surge-amid-a-massive-2-million-car-recall\/\",\"name\":\"Why Did Tesla's Stock Surge Amid a Massive 2 Million Car Recall? 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