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In the same investor note, JP Morgan slashed its price target for Tesla shares to a mere $120, representing more than a 50% drop from the $249 mark it was trading at last week. Tesla’s market cap has already plummeted roughly 49% since December, free-falling from a peak value of $1.54 trillion to under $800 billion, Business Insider notes.

Coming into Monday trading, the EV maker's shares have dropped for eight consecutive weeks, losing 41% over that span.

Tesla shares slid Monday as Mizuho analysts trimmed their price target for the stock, pointing to weakening demand and headwinds from China, amid tariff uncertainty.

Mizuho analyst Vijay Rakesh trimmed his price target on Tesla (TSLA) this morning, asserting that the EV giant is headed for a rough sales patch in 2025. In February, the electric vehicle maker underperformed the broader market in terms of sales across all three of its key markets: China,