Wells Fargo Reiterates Underweight on Tesla (TSLA), Calls Shares Overvalued

Core Insights - Tesla, Inc. is currently viewed as overvalued by Wells Fargo, which has reiterated an "Underweight" rating on the stock, citing excessive hype surrounding the company [1] - The U.S. federal regulators have initiated another investigation into Tesla's self-driving feature due to multiple incidents of traffic violations, including running red lights and driving on the wrong side of the road [1][2] Group 1: Company Overview - Tesla, Inc. operates in the automotive and clean energy sectors, utilizing advanced artificial intelligence in its autonomous driving technology and robotics initiatives [3] Group 2: Regulatory and Safety Concerns - A total of 44 incidents have been reported where Tesla drivers using the Full Self-Driving (FSD) system encountered traffic safety violations leading to collisions [2] - The investigation by the National Highway Traffic Safety Administration (NHTSA) involves approximately 2,882,566 Tesla vehicles equipped with FSD (Supervised) or FSD (Beta) [2]