Tesla’s (TSLA Quick QuoteTSLA - Free Report) relentless rally has finally been shut down by the corona crisis. The shares have fallen over 25% in the past week, and it appears the break down is apt to continue.

Tesla had been making a big bet on China with its Shanghai Gigafactory, but this production facility seemingly opened at the wrong time. January data showed a 46% decline from December in registration for new Tesla’s in China.

Tesla demand in China will likely be suspended until this pathogen is under control, and I expect this stock to continue its downward push as estimates decline.

TSLA is trading at around $700. I would let these shares fall a couple hundred more dollars before I would consider buying. The impact on Tesla and its China production will be significant, but the full gravity of the coronavirus’s effect will not be realized until it is controlled.

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Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

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