Tesla Risks Losing Status as ‘Cult Stock’ Amid Reliability Concerns
Shares of Tesla Motors Inc.TSLA -1.38% may be running out of steam.
Brian Johnson, an analyst at Barclays BCS -2.44% PLC, is warning that “Tesla’s status as a ‘cult stock’” is at risk after Consumer Reports yanked its recommendation on Tesla’s Model S Tuesday over reliability concerns.
Shares of the electric-car company dropped 6.6% Tuesday after Consumer Reports revealed that owners of the plug-in electric luxury car complained about a range of issues, including charging problems to leaky sunroofs...
Since reaching a 2015 high on July 20, Tesla’s stock has skidded 27% as the Street has dialed back its bullish stance on shares...