Why Tesla Stock Is Getting Crushed Today
Shares of the electric-car maker Tesla (NASDAQ: TSLA) continued its struggles to open the week of trading, falling roughly 8.3% as of 10:17 a.m. ET today after a Wall Street analyst lowered his price target on the stock and maintained a sell rating. UBS analyst Joseph Spak cut his price target on Tesla by $34 to $225, and shares of Tesla traded around $240, as of this writing. The analyst lowered his first-quarter delivery estimates on the company from 437,000 to 367,000, citing lower demand among Tesla's Model 3 and Model Y in select markets.