Tesla has experienced a significant decline in market capitalization, losing nearly 49% over a few months due to plummeting sales and concerns regarding CEO Elon Musk's leadership. JPMorgan analysts state this drop is unprecedented in the automotive sector, referencing previous declines linked to geopolitical tensions which were confined to specific markets. Their analysis suggests a more severe global decline in Tesla sales, prompting them to lower the price target and vehicle delivery guidance for early 2025 markedly.
We struggle to think of anything analogous in the history of the automotive industry, in which a brand has lost so much value so quickly.
JPMorgan analysts cut their price target on Tesla by about 41% from $230.58 to $135, lowering guidance on vehicle deliveries for the first quarter of 2025.
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