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Tesla’s decline in value could be unprecedented in automotive industry: JPMorgan — By market capitalisation, Tesla has lost $795bn since December 17, or 53.7 per cent
Tesla recently lost nearly 50% of its $1.5 trillion market. JPMorgan analysts don't know another car company that lost so much value so quickly.
"Mr. Musk's work with the Department of Government Efficiency has proven controversial domestically, and while as many members of the political right may be pleased as those on the left are displeased, the effect on Tesla sales seems nevertheless negative," JPMorgan analysts wrote. Morgan Stanley analysts wrote in a note on Monday that Tesla shares had fallen because of "sales data, negative brand sentiment, and market de-grossing" but that they still saw a buying opportunity for the company. Morgan Stanley analysts noted several "catalysts" in the company's pipeline, including Tesla's robotaxi, expected to hit Austin roads later this summer, and another demonstration of Optimus, the humanoid robot anticipated before the end of the year.
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