In mid-day trading on Thursday, shares in the electric vehicle maker fell nearly 10% as analysts grew more uncertain of the company's outlook.
Canaccord Genuity reduced its price target for the automaker from $304 to $275, citing a "distraught" shareholder base. Canaccord's George Gianarikas wrote that "Elon Musk is doing things" Much of this is not related to the social networking site.
On Thursday, the company doubled its previous incentives in order to encourage customers to take delivery. In Canada and Mexico, it is also giving credits. In China, the price of cars was slashed byTesla.
The Model 3 sedan and Model Y CUV, which are the company's most popular and lower priced offerings, are seen as a sign of weakened demand.
The company is giving away 10,000 miles of free charging at its Superchargers for customers who take delivery of their newTeslas in December.
Beginning in January, buyers of electric vehicles made in the U.S. will be eligible for a $2,500 incentive. Prospective owners of the company put off taking delivery of their cars until the credits took effect.
The performance of Musk as the new owner and CEO of Twitter has caused serious concern for long-timeTesla bulls who are calling on the company's Board of Directors to rein him in and get him focused on the electric car and renewable energy company
At the end of October, Musk sold off around $23 billion of his company's stock in order to finance the deal to take the micro-blogging site private. He has acknowledged that he overpaid.
The company's shares are down more than 60 percent so far this year.
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