Bank of America downgrades Tesla, citing too high valuation after stock's recent massive run

Published Wed, Apr 22 20208:12 AM EDTUpdated Wed, Apr 22 20208:21 AM EDT

Tesla vehicles stand outside of a Brooklyn showroom and service center on August 27, 2018 in New York City.

Spencer Platt | Getty Images

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Bank of America downgraded Tesla on Wednesday after the electric car maker's recent rally pushed its valuation too high in the firm's eyes.

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