Tesla shares have declined every week since Elon Musk went to Washington

Core Insights - Tesla's stock has experienced a significant decline, marking its longest losing streak in 15 years, with shares closing at $270.48 after seven consecutive weeks of losses [1] - The stock has dropped over 10% in the past week, reaching its lowest level since November 5, with a market cap loss exceeding $800 billion since its peak of nearly $480 on December 17 [2] - Major Wall Street firms, including Bank of America, Baird, and Goldman Sachs, have reduced their price targets for Tesla, reflecting concerns over declining vehicle sales and competitive pressures [2][3] Company Performance - Bank of America lowered its price target from $490 to $380, citing worries about falling new vehicle sales and the absence of updates on a low-cost model from Elon Musk [3] - Goldman Sachs cut its target from $345 to $320, highlighting a decrease in electric vehicle sales across various markets, including Europe, China, and parts of the U.S. [3] - Baird has included Tesla in its "bearish fresh picks," indicating that production downtime will complicate supply-side issues as the company transitions to manufacturing a new version of the Model Y SUV [5] Competitive Environment - Analysts from Goldman Sachs noted that Tesla is facing a challenging competitive landscape for its Full Self-Driving (FSD) technology in China, where competitors do not typically require separate software purchases for similar features [4]