Bank of Wealth: Tesla's stock price may fall another 50%, investors should be prepared

According to Business Insider, a report from Wells Fargo on Tuesday showed that the pain for Tesla investors may not be over yet. The bank's analyst Colin Langan believes there are many reasons to suggest that Tesla's stock price should continue to approach the bank's target price of $130, which means that Tesla's stock price could fall 53% from its current level. The bank's analysts reiterated their "underweight" rating and added Tesla to their tactical view list for the second quarter, indicating they do not believe Tesla will rebound quickly. The bank identified five issues facing Tesla, including potential declines in deliveries in Europe, China and the US, profits possibly falling by 25%, and unattractive valuations among others.