(Bloomberg) — Tesla Inc. has grown bigger than Toyota and Volkswagen combined thanks to a rally more befitting a technology stock than a car maker, and buying it now is probably a mistake for anyone but day traders, an analyst said Tuesday in downgrading the stock.Risks to the valuation include the possibility a new Tesla model will cannibalize sales of an older one, and rising competition in the electric vehicle market in general, wrote Sanford C. Bernstein analyst Toni Sacconaghi. While Elon Musk’s company has recently executed well on its strategy, the stock’s 481% gain in the past year likely …read more
Source:: Yahoo Finance
