Tesla temporarily closes China stores amid virus fears
. But Tesla's brand and Autopilot technology are seen giving Elon Musk's company an edge.
Closing stores is just one more indication of how the virus could affect Tesla's operations this year.results for the fourth quarter in an earnings call on Jan. 29, the numbers and news of progress on manufacturing in China helped drive Tesla shares sharply higher. By Wednesday, after news that the coronavirus was affecting major automakers including Hyundai and Tesla, more intensely than first expected, some analysts began to downgrade their ratings on Tesla from buy to hold or sell.
In a note reiterating a sell rating for Tesla, CFRA Research's Garrett Nelson said Wednesday: "We view the China situation as critical in terms of TSLA's ability to post a GAAP profit for Q1 and Q2 and clear the last remaining hurdle needed for the stock's addition to the S&P 500 ."
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