The week started with Wedbush proclaiming that the company faces a "Kilimanjaro-like uphill climb" to hit its profitability goals for the second half of the year. Analyst Dan Ives also slashed his price target from $275 to $230 and called the company's current state of affairs a "code red situation".
The week then continued with Morgan Stanley analyst Adam Jonas, who on a call with investors mid-week, said "supply exceeds demand, they're burning cash, nobody cares about the Model Y, they raised capital near lows" and there's been "no strategic buy-in". Ominously, he added: "Tesla's is not seen as a growth story, it's seen as a distressed credit and restructuring story."
This came after Jonas' note on Tuesday, which saw the investment bank lower its "bear case" target to on the company to just $10 per share.
Later in the same week, longtime Tesla bull Gene Munster capitulated and issued a stern warning that he believed Tesla will miss its 2019 delivery target range. Munster cited shrinking sales in China and the ongoing trade war as the reason for his increasingly bearish commentary. Munster cut his estimate for Tesla's full year global car sales by about 10%, to 310,000 vehicles, versus the 360,000 vehicle target that the company put out back in March.