Tesla stock fell by 4.5%, closing at $169.48 on Wednesday after Wells Fargo cut Tesla to its lowest rating, citing the potential for more price cuts that could hit the bottom line.
Source: Moomoo
Analyst Colin Langan downgraded TSLA to a Sell-equivalent Underweight from Equal Weight and lowered its price target to $125 from $200, saying its valuation premium to the other Magnificent 7 stocks is "likely a risk."
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Today's stock market session was quite the mix. Overall, stocks ended the day slightly down, but there was a lot of different action happening under the surface. On one hand, some stocks were hitting new highs, continuing their upward trend. On the other hand, we also saw an increase in stocks hitting new lows, which is a bit unusual to see both happening at the same time. This mix signals that not everything is as rosy as it might seem.
When markets reach their peak...