Tesla stock has risen too fast this year based on numerous uncertainties around the EV maker’s business, JP Morgan analyst Ryan Brinkman argues.
“Tesla’s softer trend and below-consensus adjusted automotive gross margin comes before the impact of large price reductions that will primarily be felt beginning in the first quarter,” Brinkman said in a new client note. “As such, we view margin trajectory negatively and expect that consensus margin expectations are likely to decline.”
Brinkman…
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