“The stock is only going down from here on out,” says Catherine Fadis, senior portfolio manager at Fernwood Investment Management. “Elon Musk has damaged his reputation with this Twitter business and all the negative news flowing (in its wake).” She added that “when you have a high-growth stock that relies on forecasts for years ahead, trust is extremely important – and once that trust is broken, the stock may crash from the fading of support.”
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During the week, Morgan Stanley analyst Adam Jonas warned that demand for electric vehicles is falling dramatically following the economic crisis, causing “squealing brakes.” He lowered expectations for the proportion of electric cars in the US by the end of the decade. Also Mark Delaney of Goldman Sachs and Ivana Dlavska ofSpear Invest Demand for electric vehicles is said to be declining, and is expected to have a negative impact on Tesla. The companies Goldman Sachs andRBC The Canadian also recently lowered the price forecasts for Tesla stock.