"Wells Fargo Downgrades Tesla, Predicts 30% Drop in Electric Vehicle Stock"

Wells Fargo analyst Colin Langan downgraded Tesla stock to a sell rating, citing concerns about the company's sales growth and pricing strategy. Langan expects Tesla's sales volumes to be flat this year and to fall in 2025, leading him to label the company as a "growth company with no growth." The stock has already fallen 29% this year, wiping more than $224 billion from the company’s market value, and analysts are increasingly wary about the company's future prospects. However, some analysts believe that Tesla is on track for growth and margin improvement in the coming quarters.