Wedbush analyst Dan Ives has reduced Tesla's price target from $550 to $315, citing a "perfect storm" caused by Trump's trade war and Musk's political ties. This has led to significant drops in Tesla's stock price and ongoing vandalism against its dealerships. The tariffs on imported cars are expected to inflate manufacturing costs, and although Tesla is less impacted due to local production, it won't escape the repercussions. The article also warns of potential job losses and increased vehicle prices due to ongoing tariffs, alongside a predicted drop in car sales in North America.
"We have been one of the biggest supporters of Musk and Tesla over the last decade....but this situation is not sustainable and the brand of Tesla is suffering by the day as a political symbol."
"The bigger worry in our opinion is Tesla's success in China as this key region is the linchpin to the future success of the company."
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