Tesla’s Value Might be Dropping, but Top Analysts Says it About to Soar

The EV sector has suffered in recent months, in particular, Tesla, which saw its stock price drop around 30% in the last month, leaving it currently trading around $560 per share:

Seeing as Tesla’s shares have so a big rise very quickly, it is common to see these large differences in values rise and fall. However, some believe that there are more concrete reasons than merely a change in prices on the stock exchange.

In the last few weeks, we have seen several reports of problems regarding the world of EVs, including batteries on fire en masse, microchips, and the competition intensifying with the entry of significant automakers in the world of EVs startups.

But to the delight of many, one of the top analysts on Wall Street, Dan Ives, predicts that this drop will be temporary and the pullback will be the best opportunity in concern of Tesla’s shares ever, speculating that his shares will be worth around 1 trillion of dollars:

“If China stays on its current path for Tesla, Musk & Co. could hit one million delivery units globally by 2022. This speaks to our thesis that Tesla will hit a trillion-dollar market cap in 2021 despite this risk-off moment for EV stocks with the bears coming back to life after a long hibernation in their caves over the past year.”

He has a $950 one-year price target on Tesla’s stock, and believes that Tesla has the potential to reach a $1.5 to $2 trillion market cap within the next two years.

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