Tesla's stock tumbles toward 1-year low despite upbeat analyst calls

Shares of Tesla Inc. TSLA, -6.03% tumbled 6.8% toward a one-year low in morning trade Monday, as concerns over a recent Model X accident, a recall of Model S vehicles and worries about the company's cash position continued to weigh on sentiment. The stock hit a low of $246.00 earlier in the session, the lowest level seen since March 13, 2017, although analysts at Baird and Jefferies came to the stock's defense. Since the end of February--the stock had suffered the worst month in seven years in March--the stock has now plummeted 27.8% since the end of February. Year to date, the stock has shed 20.4% while the S&P 500 SPX, -1.67% has slipped 2.4%.

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