Shares of Testify (NASDAQ: TSLA) Trading 4% lower at 1:56 pm ET, along with the wider market and as the electric vehicle The manufacturer had to remember hundreds of thousands of vehicles. The Dow Jones's industrial average fired nearly 700 points, while the NASDAQ Compound Falling over 1.6%.
Markets sold intensely again today due to concerns about the consumer. Earlier this week, StepDeputy to the user, who issued weaker than expected guidelines.
Only these concerns were worsened that the release of the Michigan University user sentiment this morning. In January, the index fell by 10% to 64.7, a greater than expected decline. Consumer five -year expectations for inflation came in at 3.5%, the highest level seen since 1995. The market has recently looked past a higher rate environment for longer, driven by adhesive inflation, but weakness is The economy has proven to be a touch subject. After all, consumer spending forms more than two -thirds of the gross domestic product.
In company -specific news, Tesla recalled over 375,000 of his vehicles. The National Highway Traffic Safety Ministry attributed the recall of steering issues in some model 3 vehicles and the model of 2023 operating an older software version. Tesla does not know of any accidents related to the issue and introduces a free software update to correct the problem.
Tesla has struggled in 2025 but has generally performed better since President Donald Trump won the election. Analysts are still shared on the stock. Dan Ives, a bull and Wedbush analyst, recently repeated his score better than performance, identifying key catalysts such as new vehicle launches on the horizon. Meanwhile, Longtime Bear Gordon Johnson of GLH Research sees a quarter that may be catastrophic, with sales in the first quarter of 2025 significantly down in China and in several European countries.
Generally, I try to avoid stocks with expensive prices, especially with uncertainty ahead. With Tesla trading 120 times on earnings, I Stay away for now.
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