Why Tesla Stock Is Plummeting Today
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Tesla's stock (TSLA) fell by 9.5% on Thursday, following a significant drop in the S&P 500 and Nasdaq. UBS lowered its price target for Tesla from $225 to $190, citing concerns over its energy business in China and the impact of tariffs on its supply chain. Despite Tesla's ambitious plans, its sales are declining, and the stock is valued at a high P/E ratio of over 130, reflecting market expectations akin to a high-growth software company rather than a traditional car manufacturer.
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