By Dhirendra Tripathi
Investing.com – Tesla (NASDAQ:TSLA) shares fell 3% Monday as traders chose to be cautious on the stock after Elon Musk’s Saturday tweet indicated continuing challenges for the electric vehicle maker.
Replying to a Twitter user’s query on Tesla’s Semi program, which develops the automaker’s electric semi-trucks, the maverick founder said, “We are too cell-constrained right now, but probably ok next year”.
Tesla shares are off by a third from their lifetime high, reached less than four months ago. Last week, Cathie Wood’s Ark Investment pegged the stock’s price to be $3,000 by 2025.
In a bear and bull case scenario, Ark sees Tesla at $1,400 and $4,000 per share, respectively.
From the U.K. limiting subsidies on EVs to China banning its cars from its military complexes, the list of challenges for Tesla has been getting long longer. The company also faces growing competition from the likes of Germany’s Volkswagen (DE:VOWG_p), Japan’s Honda and China’s Geely.