Tesla Analyst Dan Ives Sees Tesla At $1,000 In A Year

The recent decline in Tesla Inc TSLA stock will be short-lived, Wedbush Securities analyst Daniel Ives said Thursday on CNBC's "Squawk Box."

Tesla is experiencing a chip shortage and poor sales numbers in China, which has hurt the price short-term, Ives said.

Wedbush is not waiving "the white flag here on the Tesla bull thesis," he said, adding that a "green tidal wave" is coming for the industry. 

Ives told CNBC that he expects the stock to be at $1,000 per share a year from now.

The Latest Tesla News: Tesla CEO Elon Musk announced Thursday that the Model S Plaid delivery event will take place on June 3.

Tesla Model S Plaid delivery event
June 3 at our California factory

Fastest production car ever
0 to 60mph in under 2 secs

— Elon Musk (@elonmusk) May 20, 2021

See Also: Cathie Wood Buys Another $39M Tesla Shares On Dip, Also Adds Bitcoin Plays Square, Coinbase

TSLA Price Action: Tesla traded as high as $900.40 and as low as $157 over a 52-week period. The stock has traded down 21.71% over the last month and 28.44% over a three-month period. 

Tesla shares were up 2.52% at $577.65 at last check. 

Photo courtesy of Tesla.