Tesla ( TSLA 5.66%) stock has tumbled 22% year to date amid a myriad of business and political headwinds, and Wall Street anticipates further declines. The average target price among 55 analysts is $289 per share, which implies 8% downside from the current share price of $316.

Baird downgraded shares of Tesla from "Buy" to "Neutral," saying the Musk-Trump spat has led to more uncertainty and the potential for brand damage.

Tesla stock traded higher early Wednesday as shares continue to recover from last week's sell-off with the feud between Elon Musk and President Trump cooling down.

Tesla earned a new analyst downgrade in the wake of last week’s stunning showdown between the formerly close allies in Tesla CEO Elon Musk and President Donald Trump, as the stock continues to face pressure from Musk’s activities outside of his executive duties.

Musk said in a social media post this week that Tesla’s long-awaited robotaxi service will roll onto the streets of Austin, Texas on June 22. The Tesla CEO is betting the company’s future on autonomous vehicles (AV) and a robotaxi service – which will hopefully inject much-needed cash just as the company’s sales and profits are slumping.

Tesla faces an existential test this month as it aims to launch self-driving “robotaxis” in its home base of Austin, Texas, where public-safety officials are increasingly concerned about the state’s anti-regulation stance toward autonomous vehicles.

Musk attempted to appeal to a F-150 and Ram crowd that hates his cars, while completely losing the Tesla crowd that loved his cars.’ Tesla is anything but a boring stock, Ill

Elon Musk's association with Donald Trump's administration seemingly impacted his wealth, with Tesla's stock plummeting 33% since Trump's inauguration