$TSLA - WELLS FARGO SAYS TESLA SHARES TO DROP 60% WITH SALES TRENDING ‘MEANINGFULLY WEAKER’ Wells Fargo predicts a 61% drop in Tesla's stock price to $120, citing a weakening core automotive business. Analyst Colin Langan notes a 23% year-over-year decline in May global deliveries and ongoing pricing pressures from aggressive financing promotions, risking Q2 margins. Despite Tesla's upcoming robotaxi launch on June 12, Langan believes it won't offset poor fundamentals. Tesla faces slowing sales, increased competition in China, and potential supply chain issues from Trump’s tariffs. The stock has fallen over 22% in 2025, worsened by recent tensions between Elon Musk and Donald Trump, though their public dispute has recently eased