Tesla shares fell to their lowest in nearly a year due to Morgan Stanley analyst Adam Jonas cutting his price target, citing slow EV demand and potential company loss.

Tesla shares fell to their lowest in nearly a year as a Tesla bull turns bearish, cutting his price target and warning the company could post a loss this year due to GAAP accounting. Morgan Stanley analyst Adam Jonas cites slow EV demand, companies dumping EVs from their fleets, and hybrid competition for marginal EV buyers.