Tesla’s stock price will fall by about 80% on Tuesday, according to a new analysis from Bank of America Merrill Lynch.
That’s a big fall from the previous day’s price of $420, according the research firm.
Tesla shares hit $426.63 on Tuesday and are currently trading at $425.12.
The stock has seen a steep decline from the day it was listed on March 17, when it was valued at $420.
In a note to clients on Tuesday afternoon, Bank of American Merrill Lynch analysts predicted the stock would fall by around 20% in the second quarter.
The company’s market cap is around $7.6 billion.
The company’s stock is trading at a price of just under $1,200 a share.