Apr 7, 01:32 PM

Tesla Shares Drop 8.5% in Pre-Market Trading Following Target Price Cut to $315; NVIDIA Down Over 7%

Tesla shares experienced a notable decline in pre-market trading, falling as much as 10% initially before settling at a drop of 8.5%. This downturn followed a target price cut by Wedbush Securities, which reduced its forecast for Tesla's stock from $550 to $315. Concurrently, shares of NVIDIA also fell over 7%, contributing to a broader trend affecting major tech stocks, often referred to as the 'Malignant Seven.' As of April 7, 2025, Tesla's stock had dropped 40.7% year-to-date, with other tech giants like Apple and Microsoft also reporting declines. The cumulative losses for these major companies have exceeded $5 trillion in market capitalization recently, with Tesla being one of the most impacted.

#Tesla #Wedbush Securities #NVIDIA #Malignant Seven #Apple #Microsoft

Written with ChatGPT (GPT-4o mini).