'As negative as we have seen in the last few years': Why a number of Wall Street analysts are souring on Tesla

• Tesla stock has dropped nearly 30% so far this year, and has been downgraded by multiple Wall Street firms.
• Wells Fargo, Wedbush Securities, and Bernstein were the latest firms to temper their forecasts on the EV maker.
• They cite delivery disappointment, lower demand, and leadership conflict.

While stock market indexes continue to notch a string of record highs this year, 2024 has not been so kind for Tesla.

In less than three months, the electric carmaker has shed nearly 30%, erasing more than $230 billion in value. As of Thursday's close, its stock price sat at $175.79.

Listed below are the three firms to lower their price targets on Tesla, and their reasons why: