REE - REE Automotive stock falls as Wells Fargo initiates with Underweight rating

REE Automotive (REE -5.9%) stock fell after Wells Fargo initiated coverage with an Underweight rating and price target at $1. On average, Wall Street analysts rated REE a Buy. On the other hand, SA Quant rating on REE is Strong Sell. As per Quant Ratings, REE is at high risk of performing badly as it is overpriced and has inferior profitability compared to other consumer discretionary stocks. REE stock has declined 63.1% YTD.

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REE Automotive stock falls as Wells Fargo initiates with Underweight rating