Tesla’s Lackluster Phase Could Be Temporary, Says Bullish Analyst

Tesla Model X vehicle is on display during the 5th China International Import Expo (CIIE) at the National Exhibition and Convention Center (Shanghai) in 2022 in Shanghai, China. Analysts conceded that Tesla is going through a transition in terms of demand in the U.S. and globally. VCG/VCG/GETTY IMAGES.

Tesla, Inc. (NASDAQ:S.L.A shares have been trading in a range since the pullback that followed the release of the electric vehicle maker’s second-quarter results on July 19. Bullish analyst Dan Ives, however, isn’t losing sleep over the current lackluster phase.

UAW Strike Win-Win For Tesla: There’s a minimal possibility of Tesla employees demanding more pay or clamoring for unionization in the wake of the United Auto Workers’ union strike that has brought operations standstill at the Detroit big three,” said Ives in an interview with CNBC on Tuesday.