Tesla Stock Plummets Below $150, Facing 'Thesis-Changing' Downgrade

Tesla's stock has plummeted below $150 per share, erasing all gains made over the past year, as the company faces falling sales and steep discounts. The electric vehicle maker's shares are down 12.4% this week and more than 39% this year, with analysts expressing concern over the company's future. Tesla's recent announcement of job cuts and the departure of high-placed executives adds to the company's challenges, while uncertainty looms over the release of a new affordable electric vehicle. The stock slide has also impacted Elon Musk's $56 billion pay package, which has now decreased to $44.9 billion.