JPMorgan Says Tesla's Outlook Is Grim

America's biggest bank is sounding the alarm on Tesla's historic value loss under Elon Musk. As Forbes reports, JPMorgan said in a new note to clients that it's never seen anything quite like the massive value plummet at Tesla, which lost $127 billion in a single day this week as its CEO's politics become more toxic by the day. "We struggle to think of anything analogous in the history of the automotive industry," JPMorgan analysts wrote, "in which a brand has lost so much value so quickly." Led by automotive analyst Ryan Brinkman, the note updated the bank's forecast for first-quarter Tesla deliveries from 444,000 to 355,000 — a 20 percent drop that reflects the hundreds of billions of dollars Musk's electric vehicle company has lost in just a few months. Driving the new analysis is the "acute" effect the boisterous CEO has had on the carmaker as he takes on a "more divisive new role in government" — which is financespeak, essentially, that Musk's politicking is utterly destroying ... Read full article.