Tesla stock slid again Monday even as the broader market continued to pull itself out of correction territory, as shares of the electric vehicle maker led by the world’s richest man, Elon Musk, faced further pressure from Wall Street as Musk grows embedded in the White House.

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.

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Investors await Federal Reserve interest-rate decision this week, while bracing for another round of U.S. tariffs.

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