Traders betting against Tesla have lost $2 billion in just 7 days this year as the stock has surged
At least two Wall Street analysts think that the recent highs could be a peak for Tesla. On Wednesday, CFRA downgraded Tesla to "sell" from "hold," and on Thursday Baird downgraded the stock to "neutral" from "outperform."
Even one analyst who did not change his rating issued a warning about Tesla's recent climb. "We have become incrementally cautious on the stock, given its huge recent surge in price," Toni Sacconaghi of Bernstein wrote Thursday. In addition, he said, there's the potential for "weaker margins in Q4 and seasonal softness in Q1 following subsidy eliminations in the US and the Netherlands." Sacconaghi has rated Tesla "market-perform."
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