3 things Elon Musk can do in 2023 to get Tesla stock back on track – Yahoo Finance

Tesla (TSLA) CEO Elon Musk has it within his power to get the EV maker's stock working higher again in 2023.
And stepping aside as Twitter's leader isn't the only course of action to be considered to whet the appetite of Tesla bulls. Or so says Dan Ives at Wedbush.
The omnipresent Wall Street analyst released a list of 10 things he would like to see from Musk in 2023 to turn around sentiment on Tesla.
Ives' first suggestion comes as little surprise — Musk should name a new Twitter CEO by the end of next month.
But three of Ives' other ideas for the company in 2023 caught our attention as potential positives for Tesla shares, even if Musk stays on as Twitter's CEO.
From Ives' latest client note:
Board of Directors changes with some more experience around tech and EV leadership. We believe new additions to the Board would be welcomed by the Street at this tenuous time.
Buybacks, Buybacks, Buybacks. Announcing a major stock buyback program is important/key for the Street's confidence and with the stock at these levels a no brainer strategic move in our opinion for Tesla given its massive treasure chest.
More financial metrics and transparency around the margin structure at Tesla. We believe this is a hidden gem at the company with more production/sales in China and Giga Berlin and Austin ramping. Long term margin targets will be key for the Street.
To be sure, the Tesla trade has gone badly for the bulls this year, and executing any of the aforementioned action items may be low hanging fruit for a broken investment thesis.
The stock has plunged around 66% year to date — and over 35% in the past month alone — amid demand concerns and CEO Elon Musk's unpredictable leadership at Twitter.
Ives, for his part, maintains an Outperform rating on the stock and a $175 price target; shares of Tesla closed at $112 on Thursday. As of early November, however, Ives had maintained a $250 price target on the stock.
The past two weeks have brought news Tesla will offer $7,500 discounts on Model 3 and Model Y vehicles delivered in the U.S. in December — an unexpected development that further pressured the stock price. Meanwhile, reports have surfaced Tesla is running lean production at its key Shanghai plant.
Investors haven't taken that news positively, either. A number of analysts have downgraded the stock in recent days on fears of a sharp 2023 demand slowdown.
In a note to Tesla employees earlier this week, Musk implored his team to avoid being "too bothered by stock market craziness." Musk added that in his view, Tesla will be the most valuable company in the world over the long term.
For Tesla bulls right now, however, the story simply needs to stop being about how much time Elon Musk is spending at Twitter.
"Focus attention back on Tesla, not Twitter (goes hand in hand with new Twitter CEO being named)," Ives wrote.
"Musk is the [heart and lungs] of Tesla and vice versa."
Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.
Click here for the latest trending stock tickers of the Yahoo Finance platform
Click here for the latest stock market news and in-depth analysis, including events that move stocks
Read the latest financial and business news from Yahoo Finance
Download the Yahoo Finance app for Apple or Android
Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube
Related Quotes
After a tumultuous year in which its CEO Elon Musk acquired Twitter, electric car company Tesla is looking forward to end of 2022. Here is a look at the rocky year for Tesla.
Just over half of the 50 U.S. states are exhibiting signs of slowing economic activity, breaching a key threshold that often signals a recession is in the offing, new research from the St. Louis Federal Reserve Bank report said. That report, released Wednesday, followed another report from the San Francisco Fed from earlier in the week that also delved into the rising prospect that the U.S. economy may fall into recession at some point in coming months. The St. Louis Fed said in its report that if 26 states have falling activity within their borders, that offers “reasonable confidence” that the nation as a whole will fall into a recession.
Amazon is one bruised big-cap tech stock worth a look, says this longtime analyst.
Tesla is poised Friday to close the worst year in the stock’s history, having lost more than $700 billion in market valuation amid investor concerns about production disruptions, demand worries and Chief Executive Elon Musk’s focus on Twitter Inc. A new wave of share sales unfolded in recent weeks after discounts Tesla offered for people to take vehicle deliveries before year-end spurred fears over demand. The company also has had to deal with its China car plant, its largest by volume, temporarily shutting down.
Apple has faced heightened scrutiny over its App Store practices that charge a 30% fee on payments and subscriptions and does not allow iPhones to use apps from third party app stores. Cook asked Kishida to make sure that regulations around distribution of apps do not undermine user privacy and security, the report added. Apple and the Japanese PM's office did not immediately respond to Reuters requests for comment.
While quality dividend stocks may fluctuate in price, their payouts to shareholders often persist. Two compelling dividend stocks likely to announce meaningful increases to their quarterly payments in 2023 are Texas Instruments (NASDAQ: TXN) and Vail Resorts (NYSE: MTN). With nearly two decades of consecutive annual dividend increases behind it, an underlying business that produces substantial cash flow, and a management team with a great track record of prudently returning cash to shareholders, another dividend hike from Texas Instruments in 2023 is pretty much in the bag.
Tesla's stock may be a planetary play for some, but not for all.
The Buffalo storm hero who police have dubbed "Merry Christmas Jay" has been identified and is speaking out to ABC News. "I feel 100% that Jay's actions were heroic and 100% saved lives," Cheektowaga Police Chief Brian Gould said. Do you recognize “Merry Christmas Jay”?
Yahoo Finance Live look to Tesla's recent stock actions following a newly announced tax credit for EV owners in 2023.
My mom wants to upgrade her Camry SE to a Tesla. Everyone is doing it — over 1 in 50 cars are Tesla these days. The Model Y, a compact SUV, starts at about $65,000, and the Model S and Model X, Tesla's flagship vehicles, begin at around $104,000 and $121,000, respectively.
Roth Capital Analyst Craig Irwin joins Yahoo Finance Live to discuss Tesla’s stock, the state of the EV industry, EV production, the Inflation Reduction Act, and the outlook for Tesla moving into 2023.
Yahoo Finance’s Pras Subramanian joins the Live show to discuss clean vehicle tax credits and the Inflation Reduction Act.
The European Commission gave a guarded welcome on Thursday to guidance by the United States meaning that EU companies could partially benefit from the U.S. Inflation Reduction Act, but said further improvements were required. The $430 billion green subsidy law, which grants tax credits for buying U.S.-produced electric vehicles (EVs) and other green products, has triggered fears it could make the United States a world leader in the EV market at the expense of European countries. The Commission, which coordinates trade policy for the 27-nation European Union, said the U.S. guidance, published on Thursday, showed EU producers could benefit from tax credits for sales to commercial operators, but their vehicles would not be eligible for such credits when sold to private consumers.
Mayor Karen Bass says the climate crisis is among the greatest challenges facing Los Angeles, but she will need to approach it with the same urgency as housing and homelessness.
Recently elected Republicans are ready to fire up the base with anger over billions spent to protect allies overseas.
Yahoo Finance Live examines Tesla shares ahead of 2022's conclusion and discusses CEO Elon Musk's balancing of newfound Twitter responsibilities.
What to watch in markets on Friday, December 30, 2022.
(Bloomberg) — After years of stinging losses, investors betting against Tesla Inc. are finally reaping the windfall they’ve been expecting.Most Read from BloombergOne of World’s Most Crowded Cities Gets First Mass-Transit RailTrump Tax Returns Show How Write-Offs Shrank What He Owed to IRSMilan Reports 50% of Passengers on China Flights Have CovidUS Weighs Sending Bradley Fighting Vehicles to Bolster UkraineGreta Thunberg Trolls Andrew Tate on Twitter After ArrestWith Chief Executive Officer El
Wine Spectator Senior Editor and Tasting Director Alison Napjus joins Yahoo Finance to discuss the rising cost of champagne and where to find the best value for sparkling wines.
Tesla deliveries data is due as TSLA shares continue to suffer. Musk has called on staff to focus on end-of-year sales.

source