Why Is Tesla Stock Falling Over 1% Premarket Today?
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Shares of electric vehicle maker Tesla, Inc. (NASDAQ:TSLA) experienced a sharp decline in premarket trading on Monday, further extending the downturn observed since last Friday.
The premarket pullback can be attributed to several negative catalysts. Mizuho Securities analyst Vijay Rakesh downgraded Tesla, along with Rivian Automotive, Inc. (NASDAQ:RIVN) and Nio, Inc. (NYSE:NIO), all from Buy to Neutral, according to Benzinga Pro data.
The analyst based his revised outlook on near-term demand weakness and tightening liquidity.
The timing of this negative rating action couldn’t be …
Full story available on Benzinga.com
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