Tesla is getting crushed - again
That's the lowest point the stock has hit in a year.
The electric-car maker reports fourth-quarter and full-year 2015 earnings next week.Ahead of that, several analysts have reduced their target prices on the stock, including Morgan Stanley's Adam Jonas, who dropped his price target from a bullish $450 to a still fairly bullish $333.
Tesla shares have been sliding since the beginning of the year, after closing out 2015 at $240, a plunge that might be chalked up to skepticism among investors that Tesla will be able to rapidly ramp up production and deliveries of its new Model X SUV.
Jonas also expressed doubt that Tesla's next vehicle, the Model 3 mass-market sedan - expected price: $35,000 - will make it to market on schedule in 2017. He thinks that it won't hit the streets until late 2018.
Concerned investors have precedent: Tesla delivered slightly more than 50,000 vehicles in 2015, after suggesting early in the year that it would get 55,000 into owners' garages and driveways.
So far, CEO Elon Musk and his team haven't offered any guidance on what to expect in 2016, but with the Model X coming on line, 75,000 deliveries shouldn't be a stretch.
That figure is something investors will be focused on with laser-like intensity next week.