Today's stock market: Tech stocks lead the way lower, with INVISTA down nearly 4 percent.

I can't get enough of the Tesla (TSLA) bottoming out story!

So here I am again (see 6:00 AM post below) with the latest research on Tesla from Deutsche Bank automotive analyst Emmanuel Rosner. I like the title of his section on Tesla: "The Need for Clarity on the Company's Future".

Very well said, and most people on the street would agree.

Here's what Rossner said, and his words go a long way to explaining why Tesla's stock is getting crushed:

"Perhaps most importantly, we believe that Tesla's recent string of news may change investors' investment strategies. With so many questions still unanswered, it may be too early to be particularly bearish or neutral. So far, we don't know whether and, if so, when a driveable version of the Model 2 will be launched, how far along the development of robotic taxis is, or what the realistic deployment timeline will be in the face of significant technical and regulatory hurdles. We expect Tesla to comment on this during its upcoming earnings call. Unfortunately, if Tesla confirms that its renewed focus on robo-rental vehicles comes at the expense of the Model 2, we believe that this will significantly increase the risk to the stock, eliminating one of the key reasons why many shareholders currently hold the stock. More critically, this change in strategy would also make Tesla's ability to achieve fully autonomous, unmanned driving a major technical and regulatory challenge.

"In total, we are waiting for Tesla to clarify any strategic changes. If the Robotaxi is being accelerated and there is no change in the focus or timeline for the Model 2, this could be taken as a positive sign of Tesla's confidence in its autonomous technology, and could potentially add to expectations at the beginning of the year. However, if Model 2 is pushed back or canceled, we would view this as a radical change in our view, as we are concerned about Tesla's new execution risk profile, and see significant downside risk to earnings estimates beyond 2026, and believe the stock will need to undergo a potentially painful ownership base change, with investors focused on Tesla's EV sales dominance and cost advantage likely to give up and eventually be priced out of the market by the time horizon. give up and eventually be replaced by AI/tech investors with longer time horizons."