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STOCK MARKET VIEW
Tesla investors shaken by S&P “junk” rating
Tesla aside, autoindustry’s push into EVs has fallen far short of expectations

Published: Tue, 03 June 2014 18:47:01 GMT
 

Tesla Model S Geneva Motor Show stand 2014

S&P has some positives to say about the company - but it is “vulnerable”, with narrow product range - Morgan Stanley slashes electric car forecast, but backs Tesla Tesla Motors investors, used to seeing their shares soar to amazing highs, took another hit as ratings agency Standard & Poors (S&P) gave its financial profile “junk” status.

This came after the shares took an earlier hit from worries about progress on Tesla’s so-called “giga” battery factory. 

The “junk” label is in fact a S&P “B-“ rating, but this is US media shorthand for anything below a “B”. 

Companies are given junk-bond ratings when investors fear an increased possibility of default.

In fact, S&P said it expects Tesla to sustain its recent improvement in profit margins over the next 12 months because of strong demand for the Model S
...more 

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