In this article, we discuss the 5 stocks plummeting after the fed’s latest rate hike. If you want to see some other stocks on the list, go directly to These 10 Stocks are Plummeting After the Fed’s Latest Rate Hike.
5. Tesla, Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holders: 72
Shares of Tesla, Inc. (NASDAQ:TSLA) dropped nearly three percent on Wednesday, September 21, after the recent hike from the U.S. central bank. Earlier this month, Piper Sandler analyst Alexander Potter had predicted that the company’s shares would likely move down in the coming weeks.
Back then, Potter said Tesla, Inc. (NASDAQ:TSLA) shares could fall due to a spike in interest rates and weakness in China. The latest drop after the Fed’s recent rate hike suggests that the prediction has come true.
Nevertheless, most analysts, including Potter, are bullish on Tesla, Inc. (NASDAQ:TSLA), given the increasing demand for EVs around the world. Potter has been keeping an “Overweight” rating and a price target of $360 for the stock.