Tesla Stock Drops to $372.11 as BNP Paribas Slashes Price Target to $268

Tesla shares closed at $372.11 on Sept. 25, down 1.54% for the day, according to Howard Smith of The Motley Fool. The decline came the same day Tesla marked the start of mass production for its Semi heavy truck at a launch event in Nevada.

Trading volume reached 44.5 million shares, nearly 14% above Tesla's three-month average of 39.1 million shares, Smith reported. The stock has gained 23,303% since its 2010 initial public offering, though it remains below its 52-week high of $498.83.

Analysts Split on Tesla's Outlook

BNP Paribas cut its price target on Tesla to $268 a share from $280 on Sept. 24, Smith reported. UBS took the opposite view, setting a target of $385.

Tesla plans to build 50,000 Semi Trucks each year. Some analysts said that volume alone would not meaningfully move earnings.

Smith noted that Tesla's autonomous driving technology, which could extend to its heavy trucks, may carry more weight with investors than Semi output itself.

Tesla CEO Elon Musk highlighted the truck's per-mile electricity cost at the Nevada event. He said the Semi can cover 500 miles on one full charge with a complete load, Smith reported.

EV Rivals Outperform Tesla

Rivian Automotive closed at $15.47, up 1.18%, and General Motors finished at $82.63, up 2.56%. Both closed higher than Tesla on a day when the broader market advanced.

Stocks Climb as Oil Slides on Iran Report

The S&P 500 rose 0.51% to close at 7,743.41. The Nasdaq Composite added 0.48% to finish at 27,068.72.

The Dow Jones Industrial Average climbed 0.9% to 51,828.62, ending a three-week losing streak, according to Kiplinger. Oil fell after a report that Iran proposed a plan to halt fighting in the Middle East.

West Texas Intermediate crude dropped 2.5% to $92.29 a barrel, Kiplinger reported.

Bond yields moved higher even as equities rallied.

The 30-year Treasury yield touched a fresh 52-week high of 5.485%, and the 10-year yield reached 5.156%, per Kiplinger, extending a climb in long-term borrowing costs that has weighed on stock investors in recent weeks. rising bond yields

Consumer sentiment weakened further. The University of Michigan's index fell to 48.1 in September from 51.7 in August, its lowest reading since May, Kiplinger reported.