News Summary

• The stock tanked on the news.Since then, at least two analysts have downgraded the stock, while several have cut their price targets on the stock..
• In the near-term, shares will likely drift lower in what will be a vacuum of good news.”Still, for a stock that can move vigorously in either direction once sentiment shifts, this month’s sharp dive also could open the doors to a quick bounce back..
• For perspective, at that point Tesla hadn’t even launched its first mass-market car, the Model 3.“There’s no floor in this stock in the near term,” Adam Sarhan, founder and CEO of 50 Park Investments, said in an interview..
• The stock could stay in flux for a while, considering Tesla’s reluctance to lay out a roadmap and an EV winter that’s expected to plague the entire industry this year..
• The stock is on pace to close lower for the sixth straight week, its longest losing streak since 2016..
• Hertz Global Holding Inc., the rental-car behemoth, pulled back from plans to expand its electric vehicle fleet, and Ford Motor Co. said it was seeing a weaker market for them..