Tesla’s stock has entered its longest losing streak since going public, declining for seven consecutive weeks. Shares closed at US$270.48 on Mar. 7, their lowest level since Nov. 5, after dropping over 10% this week.

Since peaking at nearly US$480 on Dec. 17, Tesla’s market capitalization has fallen by over US$800 billion.

Wall Street firms, including Bank of America and Goldman Sachs, have lowered their price targets due to weaker sales, increased competition in China, and the lack of updates on an affordable EV model.

Production downtime for the new Model Y transition has also added pressure.

Concerns over Elon Musk’s political involvement and public comments have further weighed on sentiment, with protests and vandalism reported at Tesla facilities in the US and Europe.

Despite the downturn, some analysts remain optimistic. Wedbush Securities included Tesla in its “Best Ideas” list, maintaining a US$550 price target, while TD Cowen expects growth during the 2025-26 product cycle.

Tesla and Musk have not commented on these recent developments.

Recent Tesla developments