

Investor's Corner
Tesla price target reductions, Rivian recall take focus as EV stocks slide
Electric vehicle stocks are continuing to slide on Monday as a broader market turnover continues to affect the economy. Tesla faced several price target reductions on Monday morning amidst a lower-than-expected delivery count for Q3, while Rivian shares are down due to a recall that affected over 12,000 vehicles. However, these are not the only two companies facing heat during Monday’s trading session.
Tesla
Tesla (NASDAQ: TSLA) shares have been beaten and battered over the past month, down over 27 percent. Last week alone accounted for a nearly 12 percent slip in Tesla share price, attributed to a weaker-than-anticipated delivery count when the company announced Q3 numbers earlier this month. Tesla delivered 343,890 vehicles but missed Wall Street expectations. The automaker detailed difficult supply chain conditions for the slide in deliveries, which ultimately ended up occurring in Q4 instead of Q3.
“As our production volumes continue to grow, it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost during these peak logistics weeks,” Tesla said when it announced the delivery figures on October 2. “In Q3, we began transitioning to a more even regional mix of vehicle builds each week, which led to an increase in cars in transit at the end of the quarter. These cars have been ordered and will be delivered to customers upon arrival at their destination.”
These issues, while contributing to early Q4 deliveries, encouraged Morgan Stanley’s Adam Jonas to trim his Tesla price target from $383 to $350.
“We believe factors that drove Tesla’s weaker than expected 3Q production and deliveries could continue to present headwinds into 4Q as well as into FY23,” a note to investors said. Morgan Stanley trimmed its 2022 delivery outlook from 1.37 million vehicles to 1.31 million. The firm also revised its 2023 forecast by 200,000 cars from 2 million to 1.8 million.
“We reiterate our OW (overweight) rating on Tesla and continue to position the name as a core holding.”
Tesla also had its price target trimmed by UBS from $367 to $350, as analyst Patrick Hummel maintained a “Buy” rating. RBC Capital Markets analyst Joseph Spak also cut the firm’s price target on Tesla to $340 from $367.
Tesla shares were trading at $222.79 at the time of publish.
Rivian
Rivian (NASDAQ: RIVN) saw more than a 10.5 percent dip in Monday trading following a recall of more than 12,000 vehicles on Friday.
Rivian announced last week that it was issuing a recall on 12,212 R1T, R1S, and EDV (Electric Delivery Van) units due to a “loose steering knuckle fastener.” The NHTSA stated, “The fastener connecting the front upper control arm and steering knuckle may have been improperly tightened,” which may cause the fastener to separate and cause a loss of vehicle control.
“This is a black eye for Rivian now just starting to hit its stride on reaching its 25k production target,” Wedbush analyst Dan Ives said. “A modest setback.”
Rivian shares were trading at $30.63 at the time of publish.
Other EV Stocks: A rough day on Wall Street
Lucid (NASDAQ: LCID), Nio (NYSE: NIO), Li Auto (NASDAQ: LI), and Ford (NYSE: F) were all down at least 3 percent at 11:20 A.M. on the East Coast.
Ford’s 7.2 percent drop on Monday was the most notable. Wall Street continues skepticism on whether legacy automakers like Ford and GM can remain afloat among rising competition and a robust lineup of carmakers that show more promise in the EV sector. Analysts at UBS downgraded Ford and lowered its price target to $10 from $13. The Motley Fool stated in its synopsis of Ford’s struggles that the company’s key metrics for September were the weakest among U.S. automakers, making it more vulnerable during a recession than its peers.
Price increases on Ford’s F-150 Lightning have indicated the company is making the right moves to keep margins in the right place. Additionally, the company is feeling healthy demand from consumers as it recently suspended accepting orders on the Mustang Mach-E’s base trim, citing high demand and a long order backlog.
Ford stock was trading at $11.32 at the time of publish.
Disclosure: Joey Klender owns Tesla stock, but no shares of any other automaker mentioned in this article.
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Investor's Corner
Tesla welcomes Chipotle President Jack Hartung to its Board of Directors
Tesla announced the addition of its new director in a post on social media platform X.

Tesla has welcomed Chipotle president Jack Hartung to its Board of Directors. Hartung will officially start his tenure at the electric vehicle maker on June 1, 2025.
Tesla announced the addition of its new director in a post on social media platform X.
Jack Hartung’s Role
With Hartung’s addition, the Tesla Board will now have nine members. It’s been a while since the company added a new director. Prior to Hartung, the last addition to the Tesla Board was Airbnb co-founder Joe Gebbia back in 2022. As noted in a Reuters report, Hartung will serve on the Tesla Board’s audit committee. He will also retire from his position as president and chief strategy officer at Chipotle, and transition into a senior advisor’s role at the restaurant chain, next month.
Hartung has had a long career in the Mexican grill, joining Chipotle in 2002. He held several positions in the company, most recently serving as Chipotle’s President and Chief Strategy Officer. Tesla highlighted Hartung’s accomplishments in a post on its official account on X.
“Over the past 20+ years under Jack’s financial leadership, Chipotle has seen significant growth with over 3,700 restaurants today across the United States, Canada, the United Kingdom, France, Germany, Kuwait and the United Arab Emirates. Jack was named ‘CFO of the Year’ by Orange County Business Journal and Best CFO in the restaurant category by Institutional Investor,” Tesla wrote in its post on X.
Tesla Board and Musk
Tesla is a controversial company with a controversial CEO, so it is no surprise that the Board of Directors tend to get flak as well. Two weeks ago, for example, Tesla Board Chair Robyn Denholm slammed The Wall Street Journal for publishing an article alleging that company directors had considered a search for a potential successor to Elon Musk. Denholm herself has also been criticized for offloading her TSLA shares.
More recently, news emerged suggesting that the Tesla Board of Directors had formed a special committee aimed at exploring a new pay package for CEO Elon Musk. The committee is reportedly comprised of Tesla board Chair Robyn Denholm and independent director Kathleen Wilson-Thompson, and they would be exploring alternative compensation methods for Musk’s contributions to the company.
Investor's Corner
Rivian stock rises as analysts boost price targets post Q1 earnings
Rivian impressed with smaller-than-expected losses & strong revenue, pushing analysts to raise price targets.

Rivian stock is gaining traction as Wall Street analysts raise price targets following the electric vehicle (EV) maker’s first-quarter earnings report. Despite a dip after the announcement, optimism surrounds Rivian’s cost control and upcoming lower-priced cars.
Last week, Rivian reported a better-than-expected Q1 gross profit, surpassing Wall Street’s forecasts with adjusted losses of $0.48 per share against expectations of $0.92 per share. The company also reported a revenue of $1.24 billion compared to the $1.01 billion anticipated.
However, the EV automaker cut its 2025 delivery forecast and capital spending due to President Donald Trump’s tariffs. It explained that it is “not immune to the impacts of the global trade and economic environment.” RIVN stock dropped nearly 6% post-earnings, closing at $12.72 per share.
Wall Street remains upbeat about Rivian, citing progress toward launching lower-priced vehicles in 2026 and effective cost management. On Monday, Stifel analyst Stephen Gengaro raised his RIVN price target to $18 from $16, maintaining a “Buy” rating. He highlighted Rivian’s “solid progress” toward key milestones.
Conversely, Bernstein’s Daniel Roeska gave RIVN a “Sell” rating. However, Roeska also lifted his Rivian price target to $7.05 from $6.10, acknowledging “better” Q1 results. He warned that profitability remains distant and hinges on multiple product launches by the decade’s end.
Overall, Wall Street’s average price target for RIVN climbed from $14.18 to $14.31, a modest 13-cent increase reflecting positive sentiment. About one-third of analysts covering Rivian rate it a Buy, compared to the S&P 500’s average Buy-rating ratio of 55%.
On Monday, Rivian stock rose 2.7% to $14.64, slightly trailing the S&P 500 and Dow Jones Industrial Average, which gained 3.3% and 2.8%, respectively. The uptick may also stem from broader market gains tied to news of a temporary U.S.-China tariff suspension.
As Rivian navigates trade challenges and scales production at its Illinois factory, its Q1 performance and analyst support signal resilience. With lower-priced EVs on the horizon, Rivian’s strategic moves could bolster its position in the competitive EV market, offering investors cautious optimism for long-term growth.
Investor's Corner
Tesla (TSLA) poised to hit $1 trillion valuation again amid reports of Trump China deal
TSLA stock was up about 8% at $322.56 per share on Monday’s premarket.

Tesla shares (NASDAQ:TSLA) are on a tear on Monday’s premarket amidst reports that the United States and China have agreed to significantly roll back tariffs on each other’s goods for an initial 90-day period.
As of writing, the premarket price of TSLA shares suggests that the electric vehicle maker might end Monday with a $1 trillion valuation once more.
Tesla and China
TSLA stock was up about 8% at $322.56 per share on Monday’s premarket. As noted in a report from Barron’s, these prices suggest that the company could achieve a trillion-dollar valuation again, a level not seen since late February. Similar to Tesla, the S&P 500 and the Dow Jones Industrial Average were also up 2.8% and 2.1%, respectively, on Monday’s premarket.
The United States and China’s decision to roll back its tariffs would likely be appreciated by CEO Elon Musk. Despite working for the Trump administration’s Department of Government Efficiency (DOGE), and despite Tesla being least affected by the Trump administration’s tariffs due to its strong domestic supply chains in the United States, China, and Europe, Musk has noted that he is a supporter of non-predatory tariffs.
The United States and China’s Agreement
In a joint statement from the United States and China posted on the White House’s official website, the two countries agreed to lower reciprocal tariffs on each other by 115% for 90 days. This means that the United States will temporarily lower its overall tariffs on Chinese goods from 145% to 30%, as noted in an ABC 12 report. China, on the other hand, will also lower its tariffs on American goods from 125% to 10%.
The talks were led by Chinese Vice Premier He Lifeng and Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer, as per the joint statement. Bessent shared his thoughts about the matter in a comment in Geneva. “The consensus from both delegations is neither side wants to be decoupled, and what have occurred with these very high tariffs … was an equivalent of an embargo, and neither side wants that. We do want trade. We want more balance in trade. And I think both sides are committed to achieving that,” he said.
A spokesperson from China’s Commerce Ministry also shared a statement about the matter. As per the spokesperson, the deal was an “important step by both sides to resolve differences through equal-footing dialogue and consultation, laying the groundwork and creating conditions for further bridging gaps and deepening cooperation.”
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