Tesla’s stock slid Monday after an analyst at Wedbush Securities raised concerns about its ability to meet production goals and amid fresh worries over the safety of Autopilot, the company’s semi-autonomous driving feature.
Shares fell nearly 3% to $205.36 on Monday. On Sunday evening Wedbush’s Dan Ives cut his price target for Tesla, writing: “[With] a code red situation at Tesla, Musk & Co. are expanding into insurance, robotaxis, and other sci-fi projects/endeavors when the company instead should be laser focused on shoring up core demand for Model 3 and simplifying its business model and expense structure in our opinion with headwinds abound.”
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