One of Tesla’s longtime fans on Wall Street slashed his worst-case scenario for the stock price to a mere $10, in the latest sign that analysts have begun to lose faith in Elon Musk’s electric car maker.
Morgan Stanley analyst Adam Jonas said yesterday that his new “bear case” for the shares, down from a previous estimate of $97, could materialise if Tesla were to miss his forecast for sales in China by roughly half.
Mr Jonas also raised concerns about a “highly volatile trade situation in the region” and Tesla’s mounting debt load.
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