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China’s decision to end a more than decade-long subsidy for electric vehicle purchases has forced automakers, including Tesla, to deepen discounts to maintain sales as demand eases in the world's largest market.

Continuing its 2022 trend, the Nasdaq-100 fell by over 9% in December, underperforming other indexes like the S&P 500 and the Dow Jones Industrial Average. This put a cap on its abysmal year, during which it fell nearly 33%.

Launched on 12/16/1998, the Consumer Discretionary Select Sector SPDR ETF (XLY) is a passively managed exchange traded fund designed to provide a broad exposure to the Consumer Discretionary - Broad segment of the equity market.

The Nasdaq Composite nosedived into a bear market last year, dragged down by high inflation, rising interest rates, and recession fears. Throughout that drawdown, Tesla (NASDAQ: TSLA) and Microsoft (NASDAQ: MSFT) have seen their share prices plunge 73% and 30%, respectively. To p

A bad year for the S&P 500 ended badly. The major index finished 2022 down 19.4%. It's fallen by that much only seven times before. The S&P 500 also delivered a dismal performance in December, sinking by 6%.

Electric vehicle (EV) stocks were a hot commodity in 2020 and part of 2021, but investors' enthusiasm has mostly cooled as of late.

Tesla Inc delivered 55,796 China-made electric vehicles in December, the lowest level in five months, according to data from the China Passenger Car Association (CPCA) on Thursday.

What happened Shares of Tesla (NASDAQ: TSLA) plunged 36.7% in December, according to data provided by S&P Global Market Intelligence.

We are reducing our price estimate for Tesla (NASDAQ:TSLA) from $272 per share to about $217 per share.  Now, Tesla’s execution has actually been solid this year, with earnings per share poised to almost double year-over-year, despite supply chain challenges. That said

Tesla (NASDAQ:TSLA) stock has seen considerable selling pressure, falling by almost 37% over the last month (about 21 trading days), amid mounting concerns that demand for the company’s vehicles is slowing down. Tesla reduced prices on its Model 3 and Y vehicles in the U.S.

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Tesla ( TSLA ) shares have been on the end of a severe beating in recent times, with the latest meltdown taking place after the EV leader missed delivery estimates for Q4. That has only exacerbated a stock that already badly impacted by CEO Elon Musk’s ongoing Twitter shenanigans. However, according to Morgan Stanley’s Adam Jonas, the stock’s awful showing – down by 42% over the past month – is “driven by EV supply > EV demand for the first time since Covid, exacerbated by technical factors.” Jonas expects the tables will turn on the EV supply/demand paradigm in 2023, with supply finally exceeding demand, reversing the last 2 years’ prevailing trend. And this 'reset' year for the EV market will have widespread implications. “Within this environment,” says Jonas, “we believe players that are self-funded (non-reliant on external capital funding) with demonstrated scale and cost leadership throughout the value chain (from manufacturing to up-stream material supply) can be relative winners.” Even before taking IRA (Inflation Reduction Act) benefits into account, for which Tesla is the “biggest potential winner,” Jonas thinks the company is well-positioned to “extend its lead vs. the EV competition in FY23 (both legacy and start-up).” Not that 2023 will be an easy ride; hurdles to overcome include the weakening macro backdrop, “record high unaffordability,” and growing competition, yet as Tesla “leverages its cost and scale advantage,” Jonas expects TSLA will pull ahead in the EV race. As such, the analyst sees the current share price being an “attractive entry for investors.” Based on the above, Jonas rates TSLA shares an Overweight (i.e., Buy) along with a $250 price target. This figure suggests the stock will be changing hands for a 120% premium a year from now. (To watch Jonas’ track record, click here ) As usual, Tesla generates plenty of interest on Wall Street; over the past 3 months, 30 analysts have chimed in with reviews and these breakdown into 18 Buys, 10 Holds and 2 Sells, all culminating in a Moderate Buy consensus rating. The average price target stands at $257.96, implying ~127% upside potential from current levels. ( See Tesla stock forecast on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’  Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

Shares of Tesla ( NASDAQ:TSLA ) have not had a very happy start to the new year, plunging 12.2% in its first 2023 session of trade on the back of an underwhelming delivery report. Undoubtedly, Telsa is an electric vehicle pioneer with a lot to get excited about. The innovative technologies underneath the hood of the latest and greatest Tesla EVs don't change the fact that it's an auto stock in the face of an economic downturn. The recent delivery fumble may be just the start as we learn more about how much discretionary demand stands to go offline at the hands of a coming recession. Down around 74% from its 2021 peak, Tesla stock is in free-fall mode, and its stock still doesn't look cheap enough to warrant backing up the truck, given the macro risks and competitive pressures that lie ahead. Despite the magnitude of Tesla stock's crash, shares are still up more than 270% from their 2020 pandemic lows. Indeed, many hot performers of 2020 have already completed their round trips to such lows. If shares of Tesla are headed for the same fate, there's still quite a bit of downside left in the tank. There's no telling how much deliveries could fade as we march into a recession. As rates continue to rise, Tesla may be re-valued as more of an auto stock than a tech stock. Even if Tesla's impressive technologies warrant a tech multiple, valuing the company as a tech stock is unlikely to do it further favors from here as rates continue to surge. Though Tesla will survive the onslaught, I'm neutral on the stock. I don't see value here -- just mounting risk. Elon Musk's Multi-Billion Dollar Cashout Proves Well-Timed At this juncture, CEO Elon Musk looks pretty bright for having sold off a chunk of his Tesla shares through 2022. His latest round of selling saw him dump 22 million worth of Tesla stock for an estimated $3.5 billion. Though he's stated that he's done with the share sales, questions linger as to how the man will balance running Tesla in its moment of pain with his new responsibilities at Twitter. The social media platform also has a lot of baggage. For now, Twitter users have voted. They want a new top boss at the helm of the social-media firm. Whether Musk can find the right man for the job remains to be seen. Regardless, a shift of gears back to Tesla may not be enough to put an end to TSLA stock's violent implosion. Musk is urging his employees not to make too much of the vicious stock market moves. For Tesla stock investors, it's hard not to be rattled as the massive gains evaporate. Tesla is one of the so-called "cult stocks" that many Musk believers have likely doubled down on many times on the stock's multi-year ascent. Musk fanatics will be tested over the next year as the storm of headwinds comes rolling in. Analysts Remain Upbeat on Tesla Stock Wall Street analysts still view Tesla stock as a great buy on the dip, with mostly Buy ratings and just two Sell ratings. Indeed, analysts may need to "lower the bar" on price targets and recommendations as the stock's brutal decline continues in the first quarter of 2023. At $112 and change, Tesla stock trades at a somewhat palatable 33.4 times trailing earnings and 23 times cash flow. That's a historically cheap multiple to pay for Tesla. Still, the stock remains pricier than the auto industry average, which sports 21.7 times trailing earnings and 14.5 times cash flow multiples. As Tesla succumbs to the forces dragging down the auto market, it may not be too far-fetched to see the stock's multiple contract further. As auto rivals continue to electrify their rosters, it's entirely possible that the "tech multiple" attached to Tesla could vanish until the firm can pull ahead with self-driving innovations. At this point, I think Tesla may have a tougher time taking market share from rivals as auto demand continues to sink further. What is the Price Target for TSLA Stock? Turning to Wall Street, TSLA stock comes in as a Moderate Buy. Out of 31 analyst ratings, there are 19 Buys, 10 Holds, and two Sell recommendations. The average Tesla price target is $257.96, implying upside potential of 127.7%. Analyst price targets range from a low of $85.00 per share to a high of $760.00 per share. Takeaway: It Seems Too Early to Buy Tesla Stock Tesla is still a great company with a stellar brand. That said, recession headwinds seem likely to overtake the firm's ability to take market share in the auto space. Given the wide range of analyst price targets ($85-$760), I'd steer clear of the name until consensus targets are narrower. Disclosure

Wall Street's main indexes reversed early losses on Wednesday, as investors looked past a set of economic data, with focus squarely on the Federal Reserve's December meeting minutes for clues on the outlook for interest rates.

Wall Street's main indexes were subdued on Wednesday as data showed U.S. job openings fell less than expected, fuelling investor anxiety about interest rate hikes ahead of the Federal Reserve's December meeting minutes.

What happened Shares of Lucid Group (NASDAQ: LCID) were falling last month in response to a broader sell-off in electric vehicle (EV) stocks, largely due to challenges with Tesla (NASDAQ: TSLA), both with the underlying business and Tesla CEO Elon Musk's foray as the new CEO of T

Wall Street closed slightly lower on Tuesday, having traded in green earlier in the day. The technology and consumer discretionary sectors were a major drag on the broader market, with two mega-cap giants slipping on fourth-quarter performance and outlook. Energy prices w

Tesla (TSLA) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.

Wall Street's main indexes were set to open higher on Wednesday on hopes of an economic recovery in China, while focus was also on minutes from the Federal Reserve's December policy meeting for clues on the outlook for interest rate hikes.

Buying in a bear market can be a great move if you pick quality stocks and hold them for the long haul. Some stocks struggled so badly over the past year that they are trading around multiyear lows.