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Up to half of the Elon Musk-run EV maker's profitability comes from sales in China – so expect Tesla to behave like a Chinese tech stock, the bank said. ....
Tesla boss Musk has warned China is already suffering a "recession of sorts", and Chinese GDP data out Monday shows growth way below Beijing's target. ....
"We remain cautious on valuation, particularly in the context of lofty unit volume growth expectations, and continue to see material downside risk." ....