 Hi guys, this is Rich from RichTVLive and everybody's been asking me, but what's wrong with Tesla? What's wrong with Tesla? Rich, what's wrong with Tesla? What's wrong with Tesla? I'm gonna tell you why Tesla's going down, okay? So Tesla stock falls as concerns about demand for Model 3 rise Shares of Tesla are down 50% since September with concerns about demand for its Model 3 in the US at the forefront Daniel Ives of Wedbush said in a client note Monday that so far there seems to be mixed signals on Demand for the Model 3 which can make it harder for Tesla to achieve a profit in its third and fourth quarters in the future Paulo Alto, California based Tesla said last month it lost 702.1 million in its first quarter among its worst quarters in two years Sales tumbled 31% in the period CEO Elon Musk predicted another loss in the second quarter But said Tesla would be profitable again by the third quarter. That will be the key That will be the key to eliminate this free fall. You can literally see Tesla has been free falling from 376 dollars in December All the way down to 205 today So they have been absolutely free falling with no sense no end in sight in January the automaker cut its prices by 2000 per vehicle acknowledging that the pending expiration of 7500 federal tax credit for its electric cars will hurt sales So they were offering a seven thousand five hundred dollar federal tax credit for anyone who buys their electric cars Now that was ending what they had to do to reduce this big difference for investors and people that were buying the vehicles They had to try to reduce the prices by two grand But that still means you're paying fifty five hundred dollars more that wasn't exciting for investors That wasn't exciting for people that were buying the cars Thus the sales have slowed the credit is gradually being phased out for Tesla by the end of this year The base model 3 sedan now costs about thirty five thousand dollars Tesla, which also makes solar panels should also press pause and expanding into insurance Robo taxis and other projects Eve's added The company instead should laser focus on shoring up core demand for model 3 and simplifying its business model and Expense structure Eve said the analyst kept his neutral rating on the stock But Lord has price target to 230 from 275 Tesla Inc stock dropped 4.4 percent in Monday midday trading to 201 83 The stock fell below 200 earlier in the session. It's lowest point since 2016 so Tesla is under a lot of selling pressure right now It's it's and I don't really know what the end is in sight It's a 100% strong sell on bar chart top 1% of all short-term signal strengths Long-term the trend strength is in the top 1% Long-term indicators fully support a continuation of this trend However, the market is approaching oversold territory be watchful of a trend reversal. I predict this continues to go down further I don't see an end in sight until we start seeing some revenue or some positive news It might do a dead cap bounce. It might go a little bit higher But there's so much selling pressure right now that the shorter's got a hold of it and they might take this under 200 bucks That's my take on it. This is rich from rich TV live Remember always do your due diligence always do your research before you invest in anything that we talk about here in rich TV live Tesla has been on a freefall for the last month Actually really for the last three months. It's been on a freefall and Really the last six months looking at the six-month chart It has literally been on a freefall for six months. Does it go lower? It doesn't look good for Tesla right now This is your boy rich from rich TV live if you're not winning you're most likely not watching We bring you winners we analyze stocks and we bring them to you first. I'm up. Peace