Shares of EV pioneer Tesla (NASDAQ:TSLA) are trending lower today after over 1,000 workers showed up wearing stickers calling for better work conditions at the company’s German facility, according to Bloomberg.
Concerns over safety standards and overwork are leading to more employees joining the workers’ union at the plant, which employs nearly 12,000 workers. While a combination of staff shortages and ambitious production targets is impacting workers, Tesla supremo Elon Musk has not been very enthusiastic about unionization efforts.
Worker action continues to rise in the auto industry. A major strike by the United Auto Workers (UAW) has led to production halts and shuttering of plants at General Motors (NYSE:GM), Ford (NYSE:F), and Stellantis (NYSE:STLA) so far.
Reportedly, Tesla has refused to sign wage agreements in Europe and, earlier this year, terminated a group of employees making unionization efforts in New York.
Is Tesla a Good Stock to Buy?
Overall, the Street has a consensus price target of $260.54 for Tesla, along with a Moderate Buy consensus rating. This implies the stock may be fairly priced at the current level.
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