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JPMorgan walks back its enthusiasm for Tesla's go-private bid, says 'funding appears to not have been secured'
1 month ago - By Business Insider
JPMorgan has walked back some of its previous excitement about Tesla 's bid to go private.
The bank cut its price target to $195 - 35% below its current level - after realizing no funding had actually been secured.
"Such process appears much less developed than we had earlier presumed," the bank told clients Monday.
Shares of Tesla sank to a three-month low , following the price cut, but have since reversed into positive territory.
Follow Tesla's stock price in real-time here.
JPMorgan has cut its price target for Tesla by 36% to $195 a share as questions continue to surround the...
Read more ...JPMorgan walks back its enthusiasm for Tesla's go-private bid, says 'funding appears to not have been secured'
1 month ago - By Business Insider
JPMorgan has walked back some of its previous excitement about Tesla 's bid to go private.
The bank cut its price target to $195 - 35% below its current level - after realizing no funding had actually been secured.
"Such process appears much less developed than we had earlier presumed," the bank told clients Monday.
Shares of Tesla sank to a three-month low , following the price cut, but have since reversed into positive territory.
Follow Tesla's stock price in real-time here.
JPMorgan has cut its price target for Tesla by 36% to $195 a share as questions continue to surround the...
Read more ...Tesla's Stock Plunge Isn't Over Yet
1 month ago - By Fortune
Less than two weeks after Tesla shares soared after Elon Musk tweeted he was considering taking the company private for $420 per share, the company's stock has fallen to its lowest point since early June.
Shares fell nearly 9% Friday and were down as much as 7% in pre-market trading Monday, as investors seem to have dwindling faith that Musk's plan will come to fruition.
Adding to the uncertainty was a report Monday morning from J.P. Morgan saying it expects the company's shares to fall precipitously for the rest of the year, as it does not believe Musk has, in fact, secured funding for...
Read more ...JP Morgan is back to predicting a Tesla stock plunge because funding was ‘not secured'
1 month ago - By CNBC
J.P. Morgan now believes the funding behind Tesla CEO Elon Musk's talk of going private was "not secured."
Read more ...
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