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Tesla shares set to fall for a seventh straight day, as several analysts warn about problems



Tesla was put on his seventh straight day with losses ahead of the opening Thursday after several Wall Street analysts joined the growing list of brokers worried about the company's financial health.

The latest downward revision came from Loup Ventures co-founder Gene Munster, who wrote that Tesla is likely to decline delivery expectations this year as the US-China trade conflict worsens. Munster lowered its 2019 delivery estimates by approx. 10% to 310,000 vehicles for guidance at a range of between 360,000 and 400,000.

"First, we are factoring in that Tesla deliveries will be affected by tariffs coming into China," Munster wrote. "Second, non-tariff factors that will affect demand in China will include Chinese consumers boycotting Tesla and Chinese officials adding complexity to the delivery process."

Munster added that his estimate cut contained a reduction in expected China deliveries to 40,000 vehicles from 70,000 vehicles. The new figure implies that China will account for 13% of deliveries in 2019 compared to a previous forecast of 25%.

The stock fell by 4% in pre-market trading, resulting in a decrease of 17% since May 14, a $ 6.88 billion decrease in the company's market value, roughly equivalent to the size of Macy's or TripAdvisor. The share price had fallen by more than 50% from the 52-week high by Wednesday's proximity.

& # 39; A concerned credit and restructuring history & # 39;

But Munster was not alone in his more sober outlook. In a private call with Morgan Stanley clients on Wednesday, analysts and long-standing Tesla bulls talk to Adam Jonas about Tesla and recent speculation that the company would be bailed out by a major tech company.

"Tesla doesn't really look like a growth story," Jonas said on the call, which CNBC heard in a recording. Today, it looks like an emergency credit and restructuring history. "

Jonas went on to say that neither Amazon nor Apple, who is rumored to have made a bid for the Palo Alto car manufacturer, would want to acquire the company. [19659002] The big tech giants" may not be exposed for the unlimited responsibility of being involved in owning a business, where occasionally a car takes fire, takes down a building or accidentally kills a pedestrian or passenger, "said Jonas." The roads are very dangerous. There is a lot of energy stored in a vehicle. And the regulatory environment [around autonomous cars] has not had time to cure yet. "

The sharp drop in corporate equity began last week after an e-mail discovered where CEO Elon Musk instructed employees to cut costs and promised to make personal studies.

– CNBC's Lora Kolodny contributed to this report.
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