Dan Ives Brushes Aside Tesla’s Weak Q2, Says Will Buy TSLA Stock On Weakness: ‘This Is An AI Story’
Synopsis
Wedbush’s Dan Ives said Tesla is an AI story, with autonomous driving and robotics being the future.
Tech bull Dan Ives on Thursday brushed aside concerns around the Tesla stock, saying Wedbush would scoop up shares of the company on any weakness.
Tesla shares were down more than 6% at the time of writing during Thursday’s pre-market session. Stocktwits data showed the retail sentiment around the TSLA stock was in the ‘bearish’ territory.
Explaining his stance, Ives said Tesla is an AI story, with autonomous driving and robotics being the future.
“Deliveries under near term pressure…but Musk is driving AI future and autonomous worth $1 trillion to the story. That’s our bull thesis and focus for Tesla,” he said in a post on X.
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TSLA stock is down 18% year-to-date, but up 54% over the past 12 months.
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