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The crux of JP Morgan's argument lies in the anticipated changes in regulations that could affect Tesla significantly. According to analyst Ryan Brinkman, if the incoming president were to eliminate the $7,500 Federal EV tax credit, Tesla could see its profits decline dramatically, resulting in a staggering $3.2 billion loss. This potential decrease comes on the heels of a notable decline in global sales for Tesla, marking a pivotal moment for the company that had enjoyed substantial annual sales growth for over a decade.