China has long been considered an essential component of Tesla’s (TSLA) ongoing success. The country has not only been committed to advancing electric vehicles, but is also home to its flagship Gigafactory, located in Shanghai. Wedbush’s Daniel Ives has repeatedly stressed the region’s importance to Tesla and thinks the current China headwinds are “hard to ignore.” “The success of the China story on both the supply and demand side are the linchpins to our long-term bull thesis in Tesla,” the 5-star analyst explained. “That said, the reality is the current Shanghai lockdowns have been an epic disaster so far in the June quarter.
https://www.tipranks.com/news/article/tesla-stock-china-headwinds-merit-a-price-target-cut-says-top-analyst?utm_source=advfn.com&utm_medium=referral