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On an annual basis, services inflation was up 7.2%, the worst year-over-year increase since 1982, he noted. "To get services inflation down, you really actually need to create demand destruction. But Johnson believes central bank policies will further impact the stock market heading into the rest of the year. This will put more pressure on the stock market throughout the year, creating a steeper-than-anticipated decline. He believes the stock market will repeat the pattern witnessed in 2000 and 2001.
But on January 2, the company revealed disappointing fourth quarter sales, despite price cuts announced in December. “Will they rip the band-aid off and say they no longer will see 50% sales growth? Ives recently slashed his own Tesla price target from $250 to $175. Some of those sales came after Musk had declared on Twitter that he was done selling Tesla shares. “There’s so much noise that’s been an overhang on Tesla stock, from Twitter, to the court case, to his selling of stock,” said Ives.
Now it's full speed ahead into 2023 — and the first Opening Bell newsletter of the year is a doozy. Over the last 12 months, volatility defined global markets. Some of the worst-performing tokens plummeted more than 90%, and one North Korean cyberattack resulted in a $625 million theft. Here is your complete guide to navigating the stock market. Oil (WTI) price on Jan. 3, 2023 Markets Insider10.
Tesla shares are trading at $122, with the stock up about 8% Thursday. Why Tesla is tankingA popular misconception has emerged about Elon Musk and Tesla: The megabillionaire’s love affair with Twitter is the main reason Tesla shares have lost so much value this year. Musk, Tesla’s largest shareholder, has sold $23 billion worth of Tesla shares since his interest in Twitter became public in April. On a Twitter Spaces call last week call, Musk promised he was done selling shares of Tesla (TSLA) stock until at least 2024, if not beyond. But he hasn’t lived up to a previous promise in April that he was done selling Tesla (TSLA) shares, selling $14.4 billion of that stock since that time.
New York CNN —A popular misconception has emerged about Elon Musk and Tesla: The megabillionaire’s love affair with Twitter is the main reason Tesla shares have lost so much value this year. Investors have been disappointed that Musk appears to be paying for so much of his $44 billion purchase of Twitter by selling Tesla stock. Musk, Tesla’s largest shareholder, has sold $23 billion worth of Tesla shares since his interest in Twitter became public in April. On Thursday’s Twitter Spaces call, Musk promised he was done selling shares of Tesla stock until at least 2024, if not beyond. But he hasn’t lived up to a previous promise in April that he was done selling Tesla shares, selling $14.4 billion of that stock since that time.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJohnson: Tesla is just a car company that's built too much capacity it can't sellGordon Johnson of GLJ Research discusses the key issues at the heart of the worst year for Tesla's stock on record.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla shares will come under 'tremendous pressure' soon, says GLJ Research's Gordon JohnsonGordon Johnson, founder and CEO of GLJ Research, joins CNBC's 'Squawk Box' to explain why he's bearish on shares of Tesla.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElon Musk is Tesla's brand and 'needs to pull it together,' says Loup's Gene MunsterGene Munster, founder and managing partner at Loup Ventures, and Gordon Johnson, founder and CEO of GLJ Research, join CNBC's 'Squawk Box' to discuss how Elon Musk's controversial ownership of Twitter is hurting demand for Tesla cars.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with CFRA's Garrett Nelson and GLJ Research's Gordon JohnsonGarrett Nelson, CFRA senior analyst, and Gordon Johnson, founder and CEO at GLJ Research, join 'Power Lunch' to share their competing opinions around Tesla stocks, the reasons behind their price targets, and how they understand Tesla's cost structure.
The bear vs. bull case for Tesla
  + stars: | 2022-10-10 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe bear vs. bull case for TeslaGarrett Nelson, CFRA senior analyst, and Gordon Johnson, founder and CEO at GLJ Research, join 'Power Lunch' to share their competing opinions around Tesla stocks, the reasons behind their price targets, and how they understand Tesla's cost structure.
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