Tesla’s (TSLA) stock extended its losses in early trading on Monday, with shares plunging more than 10% to $214.80, Esha Dey of Bloomberg reports. Back in March, Commerce Secretary Howard Lutnick said during a Fox News interview that viewers should buy the stock since “it’ll never be this cheap again” and CEO Elon Musk told employees to hang onto their shares. The latest decline comes after Wedbush Securities analyst Daniel Ives, one of Tesla’s biggest bulls, slashed his price target on the stock by over 40% due to Trump’s trade policies and a brand crisis created by Musk.
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