JPMorgan cuts Tesla delivery forecast by 20%

JPMorgan has reduced Tesla's delivery forecast by 20%, predicting 355,000 units instead of 444,000. The firm also anticipates Tesla's stock could drop to $120 per share, nearly half its current value. Tesla's stock has recovered about 7% after a significant drop earlier this week but remains nearly 50% down from its peak in December. The company faces challenges from market conditions and increased competition, particularly in Europe and China. Concerns about Elon Musk's political influence and the impact of tariffs on the automotive market are contributing to Tesla's struggles. The firm notes that this decline in value is unprecedented in the automotive industry.