Welcome to Extreme Investor Network, where we bring you the latest insights and analysis on the world of investing. Today, we are diving into the recent news surrounding Tesla as analyst Emmanuel Rosner from Deutsche Bank defends his decision to downgrade the stock.
According to Rosner, Tesla’s earnings and free cash flow are under pressure, prompting the downgrade from buy to hold. The potential shift away from building the low-cost Model 2 vehicle in favor of a self-driving robotaxi is a major factor in this decision. Rosner believes that this change in strategy could have significant implications for Tesla’s financial performance in the future.
The stock has already felt the impact of the downgrade, falling 3% and contributing to its 39% year-to-date loss. Rosner had previously been a longtime bull on Tesla, but recent developments have led him to reassess his position on the company.
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