Tesla (TSLA) shares lost another 14% on Monday, March 10 amidst concerns that President Donald Trump’s tariffs could push the U.S. economy into a recession. Investors are also concerned that billionaire Elon Musk’s close association with Trump is making some consumers distance themselves from Tesla.

Tesla shares, which have lost ground in seven consecutive weeks, plunged another 15% on Monday. These are the key chart levels to monitor.

After soaring in 2023 and 2024, shares of Tesla (NASDAQ:TSLA) have been battered over for nearly three months now. To start 2025, the largest U.S. EV-maker has seen its shares drop more than 53% at the time of writing.

After weeks of downturns on Tesla J.P. Morgan has lowered its price target on Tesla’s stock. This is mainly because the company thinks that fewer cars will be delivered for the second year in a row. Analysts also say that current and possibly new customers are feeling differently about the electric vehicle maker.

The Elon Musk -led electric vehicle company’s stock was up nearly 5% to $232.70 intraday, making back a small fraction of what it’s lost amid an extended sell-off since President Trump took office. The stock is on pace to fall for the eighth consecutive week, even after the uptick on Tuesday.

Tesla (TSLA) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

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