Tesla shares slide more than 4% as Goldman downgrades stock to sell

Tesla Inc. shares fell more than 4% Monday, after Goldman Sachs downgraded the stock to sell from neutral, citing near-term challenges including the launch of the mass-market sedan, the Model 3.

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“While we believe Tesla TSLA, -4.65% currently has a lead relative to OEM (original equipment manufacturer) peers with respect to vehicle technology adoption, electric vehicle architecture, and (potentially) battery scale, our concerns are more near-term oriented with respect to operational execution on the Model 3 launch, an unproven solar business, and cash needs,” analysts led by David Tamberrino wrote in a note.

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