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Another analyst just put out a shocking bear case for Tesla: Citi says stock could drop to $36

John Melloy

"Maintain sell/high risk as the risk/reward still appears negatively skewed despite the recent capital raise and stock pullback," Citi's Itay Michaeli says. Morgan Stanley caused a stir on Tuesday when star auto analyst Adam Jonas put out a "bear case" scenario that envisioned Tesla TSLA 's shares plummeting to just $10. Citi's Itay Michaeli sees increasing probability the shares plummet more than 80% to $36.