Stocks making the biggest midday moves: Tesla, Polestar, Paramount Global and more
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 02 2024
0mins
Should l Buy TSLA?
Source: CNBC
- Tesla: Surged nearly 9% after reporting better-than-expected second-quarter deliveries, delivering 443,956 vehicles.
- Polestar: Tumbled 7% as its first-quarter loss widened to $274.3 million, despite an 80% increase in car deliveries in the second quarter.
- Paramount Global: Shares rose 3% amid talks for a potential merger of Paramount+ with Warner Bros. Discovery's Max streaming service.
- Pure Storage: Data storage stock fell 5.4% following a UBS downgrade to sell due to unfavorable risk-to-reward ratio.
- Eli Lilly, Novo Nordisk, Incyte: Shares of these drugmakers and biopharmaceutical company dropped after criticism from President Biden and Sen. Sanders on high drug prices.
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Analyst Views on TSLA
Wall Street analysts forecast TSLA stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for TSLA is 401.93 USD with a low forecast of 25.28 USD and a high forecast of 600.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
30 Analyst Rating
12 Buy
11 Hold
7 Sell
Hold
Current: 411.110
Low
25.28
Averages
401.93
High
600.00
Current: 411.110
Low
25.28
Averages
401.93
High
600.00
About TSLA
Tesla, Inc. designs, develops, manufactures, sells and leases high-performance fully electric vehicles and energy generation and storage systems, and offers services related to its products. Its segments include automotive, and energy generation and storage. The automotive segment includes the design, development, manufacturing, sales and leasing of high-performance fully electric vehicles, and sales of automotive regulatory credits. It also includes sales of used vehicles, non-warranty maintenance services and collisions, part sales, paid supercharging, insurance services revenue and retail merchandise sales. The energy generation and storage segment include the design, manufacture, installation, sales and leasing of solar energy generation and energy storage products and related services and sales of solar energy systems incentives. Its consumer vehicles include the Model 3, Y, S, X and Cybertruck. Its lithium-ion battery energy storage products include Powerwall and Megapack.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Strong Financial Position: Despite an 11% drop in auto sales and operating income in Q4 2025, Tesla generated $6.2 billion in free cash flow and has $44 billion in cash and investments, providing a solid financial foundation for future investments.
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- Investment in Key Projects: The company is investing in six new factories and plans to expand its robotaxi and Optimus fleets to meet future market demands while ensuring supply chain stability.
- Strong Financial Position: Despite an 11% drop in auto sales and operating income in Q4 2025, Tesla generated $6.2 billion in free cash flow and has $44 billion in cash and investments, providing a solid financial foundation for future investments.
- Diversified Financing Strategy: Tesla's management is in discussions with banks regarding funding needs, potentially considering debt financing to bolster liquidity, while its $1.2 trillion market cap and a high P/E ratio of 365 offer options for raising equity capital with minimal dilution.
See More
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- Merger Valuation Surge: Musk's merger of SpaceX with xAI creates a new entity valued at $1.25 trillion, boosting his net worth to approximately $845 billion, reflecting his ambitions in aerospace and AI sectors.
- Wealth Shift: Post-merger, Musk's ownership in the new entity is estimated at 43%, valued at over $530 billion, indicating a shift in his wealth focus from Tesla to SpaceX, which now constitutes nearly two-thirds of his wealth.
- Market Potential: The merger is seen as a strategic move to access larger capital markets, particularly as xAI's AI model development requires significant funding, potentially opening up greater business opportunities for Musk.
- Future Challenges: While Musk aims to become the world's first trillionaire, SpaceX needs to reach a valuation of approximately $1.6 trillion, facing regulatory scrutiny and ongoing investigations into xAI, which could impact his financial strategy.
See More
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- Executive Departure: Tesla's VP of IT and AI Infrastructure, Raj Jegannathan, has left the company after 13 years, and while he expressed gratitude on LinkedIn, his lack of future plans may impact Tesla's leadership in IT and AI sectors.
- Sales Role Changes: Jegannathan was tasked with overseeing North American sales last year despite lacking sales experience, and his departure could lead to further instability in key sales positions, potentially affecting market performance.
- FSD Policy Update: Tesla recently revised its Full Self-Driving (FSD) transfer terms, allowing customers to qualify for free transfers as long as they place orders by March 31, 2026, a change aimed at enhancing customer appeal and driving sales growth.
- Market Performance: Tesla's stock surged 1.51% to $417.32 at market close on Monday, reflecting market confidence in the company's future despite potential short-term uncertainties following the executive departure.
See More
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- First Electric Supercar Launch: Ferrari officially unveiled its first electric supercar, named 'Luce', which features four electric motors delivering over 1,000 horsepower, marking a significant advancement for the company in the EV sector.
- Outstanding Performance Specs: The Luce is equipped with a 122 kWh battery, achieving 0-60 mph in just 2.5 seconds and boasting a range of 330 miles, showcasing Ferrari's competitiveness in the high-performance electric vehicle market.
- Design and Technology Fusion: The vehicle features a retro-inspired steering wheel and physical buttons, along with a 10-inch iPad-like infotainment screen and a 12.5-inch instrument cluster, blending traditional and modern technology to enhance the driving experience.
- Positive Market Reaction: Ferrari's stock surged 0.70% on the day of the launch, closing at $336.13, with after-hours trading further increasing to $337.00, indicating strong investor interest in the new model.
See More
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- Lunar Mission Competition: Musk stated that he would congratulate Bezos if Blue Origin successfully lands on the Moon before SpaceX, emphasizing that the future hinges on the ability to transport 'millions of tons of equipment and people' to the lunar surface, indicating a strategic pivot for SpaceX towards lunar exploration.
- Accessibility of Lunar Travel: In a post on social media, Musk announced that SpaceX would create a system allowing anyone to travel to the Moon, showcasing the company's vision and potentially driving the democratization of commercial space travel, thereby enhancing SpaceX's market position.
- Revenue Source Shift: Musk revealed that by 2026, NASA would account for only 5% of SpaceX's revenue, with the majority coming from the Starlink satellite internet service, highlighting the diversification of the company's business model and a positive outlook for future income.
- Financial Performance: SpaceX is projected to generate nearly $16 billion in revenue and $8 billion in profit in 2025, with Starlink contributing 50% to 80% of that revenue, indicating strong growth potential in the commercial space sector.
See More
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- Patents vs. Trade Secrets: Billionaire investor Mark Cuban argues that as artificial intelligence rises, companies will increasingly skip patents in favor of trade secrets to adapt to the changing economics of intellectual property.
- Impact of Open Source: Cuban shared a clip of Elon Musk's interview where Musk mentioned Tesla's open-sourcing of patents, leading Cuban to assert that avoiding patents will become more common since once a patent is published, it can be circumvented by anyone.
- Revaluation of Data: Cuban emphasizes that in an AI-driven economy, data and information will be more valuable than gold or oil, urging companies to protect key datasets and develop their own models instead of relying on third-party tools.
- Skepticism of Patent System: Cuban has long questioned the patent system, funding initiatives to eliminate “stupid patents” and calling for the abolition of software patents, arguing they stifle small business innovation.
See More
