Goldman Sachs is the latest to cut their rating for the EV maker
) shares has powered the EV maker’s market value toward trillion-dollar levels, prompting some analysts to question its valuation and downgrade the stock.
The brokerages have attributed the rally, which has cost short sellers $12.68 billion this year, partly to the company benefiting from the buzz around Artificial Intelligence. “While the market is now giving the stock more credit for its longer-term opportunities, we are also cognizant of the difficult pricing environment for new vehicles that we think will continue to weigh on Tesla’s automotive non-GAAP gross margin this year,” Goldman analyst Mark Delaney said.
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