Tesla plummeted before the market, and the US Secretary of Commerce is about to be slapped in the face

International Finance News
April 7, 2025 17:46:00 from Beijing
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Tesla (TSLA.O) shares plunged more than 10% to $214.80 as global stock markets generally plummeted. It fell below the "predictive level" of US Commerce Secretary Lutnik.

In an interview with Fox News on March 19, Lutnik said viewers should buy the stock, saying "it will never be so cheap again." (about $235 at the time). The next day, Musk told Tesla employees that they should hold on to their stocks.

Before Tesla's stock price fell, Daniel Ives, the most optimistic analyst at Wade Bush Securities, lowered his target share price by more than 40%, citing Trump's trade policy and the brand crisis caused by Musk. (International Financial News)