Elon Musk’s Comments on Ketamine Come To Light Just as Tesla Shares Begin to Stage a Nascent Recovery

This is not a recommendation for investment. The author does not hold any positions in the stocks mentioned.

Despite efforts to recover from the recent liquidation of Tesla shares, Elon Musk’s remarks on Ketamine use have once again shaken investors’ confidence, leading one to reluctantly admit that he may be his own worst enemy.

❖ Elon Musk Says Ketamine Prescription is in Investors Best Interests – Report

Elon Musk said his use of ketamine alleviates periods of low mood and is in the best interest of investors during an interview with former CNN anchor Don Lemon, as reported by Bloomberg.

— *Walter Bloomberg (@DeItaone) March 18, 2024

Bloomberg has recently reported that during his interview with Don Lemon, Elon Musk stated that his use of Ketamine was in the best interest of the shareholders as it helped him cope with “low mood”episodes. As a result of the controversial interview, Musk cancelled his deal with Don Lemon and later likened the host to “Jeff Zucker talking through Don,”referencing Lemon’s perceived alignment with the former President of CNN.

“Goldman Sachs Revises Tesla Estimates Due to Production and Market Challenges”

In recent news, Goldman Sachs has joined the ranks of other Wall Street companies in reducing its price target for Tesla shares. Specifically, the investment bank has adjusted its target from $220 to $190, citing issues with production and delivery within the company as well as external market challenges.

Last week, Morgan Stanley’s Adam Jonas shocked Tesla supporters by stating that the EV company’s shares could potentially reach the $100 mark. This coincided with Wells Fargo’s recent “sell”rating and reduced target for Tesla shares from $200 to $125.

Despite facing a persistent anemic demand issue, Tesla has been making every effort to address it by implementing numerous strategies, including unconventional ones. However, there are indications that the demand for its products is starting to stabilize, although at a lower level than originally anticipated. As a result, the company’s shares saw a 3 percent increase during today’s pre-market trading session.

Meanwhile, $TSLA said on Saturday it would increase the price for its Model Y electric vehicles (EV) in a number of European countries on March 22 by approximately EUR 2K ($2,177).

— notreload (@thudderwicks) March 18, 2024

For example, this weekend, Tesla raised the price of its Model Y by 2,000 Euros in several crucial European nations.

$TSLA had raised the prices of its Model Y rear-wheel drive and long-range vehicles by $1K to $43,990 and $48,990, respectively, on March 1. https://t.co/fNBg3O3SnF

— notreload (@thudderwicks) March 18, 2024

The electric vehicle company has also raised the cost of specific versions of the Model Y in the United States by $1,000, indicating a possible change in strategy to improve its low profit margins.

Tesla are now discounting new (not demo) M3 Highland inventory by up to 10% in France as part of the quarter end push. https://t.co/Ijd0FR2ApD

— Tesla Info (@TeslaInfoCom) March 18, 2024

It should be noted that Tesla is not consistently raising the prices of its products. In fact, it recently offered a discount of up to 10 percent on the newly released Model 3 Highland in France.

According to Gary Black of Future Fund, there is a possibility that Wall Street is already taking into account a considerable decrease in Q1 deliveries, estimated to be between 425,000 and 440,000 units. Furthermore, it is becoming more and more apparent that Tesla will face challenges in meeting its target of delivering 2 million vehicles by the end of 2024.