Tesla Stock Plummets Amid Delivery Concerns
Tesla's stock dropped 18% as analysts warn that continued delivery declines could further pressure its share price, with a consensus target of $421.61 [https://247wallst.com/investing/2026/03/11/tesla-crashes-18-heres-why-wall-street-is-getting-nervous/].
Wedbush analyst Daniel Ives noted that Tesla needs to buck its current trend of disappointing delivery numbers to prevent further stock declines. Ives maintains a "neutral" rating on the stock. The delivery slowdown is attributed to production issues with the new Model 3 and weaker-than-expected demand in China. Tesla's deliveries in China have been impacted by increased competition from local EV manufacturers. Morgan Stanley analysts also cut their price target for Tesla, citing concerns about the company's long-term growth prospects. The analysts believe Tesla will need to introduce a lower-priced vehicle to compete effectively in the global EV market.
