Tesla Falls Again as Barclays Joins Peers, Cuts Target Price
- Analyst says SUV output rate raises questions about Model 3
- Stationary-battery business seen facing intense competition
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Tesla Motors Inc. fell Friday to the lowest price in six weeks after Barclays downgraded the stock to the equivalent of a sell rating. Tesla shares declined every day this week.
Tesla dropped 2.7 percent Friday at $220.69, the lowest closing price since Aug. 25. The stock has fallen for five straight days -- its longest losing streak this year -- slumping 11 percent and wiping out $3.5 billion of market valuation.