Tesla’s stock has taken a significant hit as analysts express concerns about unprecedented brand damage affecting the company’s earnings. J.P. Morgan analysts note that Tesla’s first-quarter sales and production report indicates they may have underestimated consumer backlash. Protests and vandalism targeting Tesla have increased due to CEO Elon Musk’s political affiliations. Delivery numbers fell short of expectations, prompting analysts to lower their forecasts for Tesla’s future performance. The company’s stock has declined approximately 30% this year, largely attributed to public sentiment against Musk.
— new from Quartz
