After Sliding From All-Time High, Vetr Downgrades Tesla To Strong Sell

The Vetr crowd on Tuesday downgraded its rating on Tesla Inc TSLA from 2.5 stars (Sell), issued six days ago, to 1.5 stars (Strong Sell). Crowd sentiment at the time of the downgrade was edging cautious, with 50 percent of Vetr user ratings bearish.

The downgrade comes as shares finally met resistance after a more than 11 percent decline through the second half of September off of an all-time high of $385. The downtrend emerged as the company announced discountinuation of its Model S electric car and rumors of a partnership with Advanced Micro Devices, Inc. AMD to produce the company's autonomous car infrastructure circulated.

Tesla closed September 26 slightly up at $345.25.

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Currently, the Vetr crowd's average price target on Tesla is down at $298.58, which is still above the average analyst price target of $267.78. Tesla is a popular stock on Vetr as more than 9 percent of users are holding TSLA in their watch-lists.