By CCN: Tesla’s stock is down another 6% today, the sixth consecutive session TSLA shares have fallen. It is now down 40% year-to-date.

Tesla’s stock is getting beat up this year. | Source: Yahoo Finance

Tesla Car Price and Stock Price Are Both Falling

Tesla’s stock is getting hammered today because of the company’s announcement that it is cutting prices on older model S and X vehicles. Merrill Lynch put out a note expressing concern that sales on those models have peaked and are losing market share to its own Model 3.

Analysts are starting to get a clue that Tesla’s stock has always been a sucker’s bet, with Morgan Stanley lowering its worst-case scenario price target to $10:

“Our revised bear case assumes Tesla misses our current Chinese volume forecast by roughly half to account for the highly volatile trade situation in the region, particularly around areas of technology, which we believe run a high and increasing risk of government/regulatory attention.”

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