• Business

    Tesla stock has ‘gone on sale,’ according to one analyst. Here’s what investors should do

    Tesla Inc. stock is caught up in the tech selloff as well as some company and industry headwinds, but that doesn’t mean investors should shy away from the “highly attractive entry point” the pullback has created. That’s from CFRA analyst Garrett Nelson, who said in a note Tuesday that even though Tesla TSLA, +11.69% shares “have recently gone on sale,” the company is “one of the market’s most compelling growth stories – an investment with long-term return potential similar to tech disruptors such as (Apple Inc. AAPL, +3.23% ) or (Amazon.com Inc. AMZN, +2.49% ) several years ago.” Tesla shares have lost 44% this year, compared with losses of around…

  • Business

    Strategist who nailed the recent S&P 500 top says three things are needed for a market bottom

    Wariness is in order after the S&P 500’s bear-market finish and a potential 75 basis-point Fed hike just one day away. Gains for stock futures and a potential bounce are fading fast. Morgan Stanley’s Mike Wilson, who can count some wins after pounding the table this year over a gloomy stock setup, told clients on Sunday that the S&P is “headed toward 3,400 before a more tradable low is in.” “With growth now the main risk to stocks, our focus remains on names that can deliver on earnings in a very difficult environment for many companies to navigate,” said Wilson. “We continue to like classic late-cycle winners – defensives and energy –…