Tesla Stock Sinks as Analyst Predicts Stagnant Sales Growth and Falling Demand
• Tesla analyst predicts zero sales growth this year and volume drops in 2025, sending stock down 4.5% to 10-month low • Tesla no longer seen as high-growth company to justify premium valuation; trades at 55x forward earnings vs Magnificent 7 at 31x • EV demand slowing based on China sales, Europe data, Berlin factory disruption; price cuts losing impact • Tesla stock has lost $245B in market cap this year, dropping Musk from world’s richest to 3rd • 2024 profit estimate cut to $2 per share from $2.40, compared to consensus of $3.03