Early Tesla Bulls Abandon Ship as Shares Drop 30% in 2023 📉

Some Early Tesla Bulls , Are Ditching the Stock.<br />Reuters reports that Tesla's shares <br />are down about 30% this year.<br />Since 2021, shares have fallen <br />over 50%, causing the company to <br />lose $600 billion in market value. .<br />Q1 results fell short of analysts' expectations.<br />As a result, many of Tesla's <br />institutional shareholders are saying <br />goodbye to the stock, Reuters reports. .<br />Gabelli Funds sold all of <br />its 65,900 shares in Q1. .<br />It started to feel like the <br />fundamentals were becoming <br />detached from reality. , John Belton, a portfolio manager at Gabelli Funds, via NPR .<br />We think the stock works best when <br />there are auto company fundamentals <br />that justify the stock price, John Belton, a portfolio manager at Gabelli Funds, via NPR .<br />Ross Gerber of Gerber Kawasaki Wealth <br />& Investment Management has sold <br />about 200,000 Tesla shares this year. .<br />I think the story is over, <br />is the best way to say it, Ross Gerber of Gerber Kawasaki Wealth <br />& Investment Management, via NPR.<br />Over the last year and a half, Elon’s <br />personal quests based on the way that <br />he sees the world have superseded the <br />interests of Tesla and its shareholders, Ross Gerber of Gerber Kawasaki Wealth <br />& Investment Management, via NPR.<br />However, not all of Wall Street <br />has given up on the stock.<br />Five mutual funds tracked by Morningstar <br />increased their Tesla shares last quarter, <br />and 19 analysts have given Tesla a "buy" or "strong buy" rating, Reuters reports.