Tesla's rating has been heavily downgraded by major Wall Street banks, and its stock price has plummeted recently

On Monday, June 27th, local time, Tesla closed 6.06% lower at $241

On Monday, June 27th, local time, Tesla closed 6.06% lower at $241.05 per share, marking its largest daily decline in more than two months. Since late April, Tesla's stock price has surged by over 70%, but has recently fallen into a correction.

It is reported that Goldman Sachs downgraded Tesla's stock rating to "neutral" on Monday, joining Morgan Stanley and Barclays. The latter two major investment banks downgraded Tesla's stock rating last week. Goldman Sachs downgraded Tesla's rating from "buy" to "neutral" in its latest report, and set a target price of $248 per share. Goldman Sachs analyst Mark Delaney said: "At present, the market has given more trust to Tesla's long-term opportunities (increasing the target share price); but we also realize that fierce competition makes it difficult to price new cars, which will continue to drag down Tesla's Gross margin this year." Morgan Stanley and Barclays pointed out that Tesla is facing fierce competition in the Chinese market, and may be forced to cut prices. Therefore, in the future, Tesla's profit expectations may be lowered.

However, some industry experts have also stated that Tesla cannot simply be evaluated according to the same standards as traditional cars. Tesla's core advantage lies in its core software capabilities for new energy pure electric vehicles, such as intelligent battery control system of electric vehicles and auto drive system.

Tesla CEO Musk even said that in the future, Tesla can provide users with Tesla cars for free, so as to ensure that Tesla can collect more road driving data and upgrade Tesla Autopilot's automatic driving system. In the future, Tesla will develop towards a profitable direction in software services, which is completely different from the development path of traditional cars.

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