Tesla Inc. (TSLA, Financials) shares have declined 15.7% over the past month, falling to $339.86 as of 12:01 p.m. ET on Monday, amid growing concerns over demand, competition, and CEO Elon Musk's external ventures.

Citing declining demand patterns in important areas like California and Europe along with growing competition in both the electric vehicle and autonomous vehicle sectors, Oppenheimer analysts changed their projections for Tesla. Maintaining a "Perform" rating on the stock, analyst Colin Rusch and his colleagues signaled a neutral posture but also underlined growing dangers to Tesla's market posture.

Oppenheimer thinks Tesla has major challenges even if the firm is leading in artificial intelligence-driven car technology. The company stated that possible regulatory changes under a second Trump administration might further affect Tesla's economic climate and alluded to Musk's political participation, which would alienate customers and staff.

Further raising questions is Musk's recent attempt to buy OpenAI, the artificial intelligence research company he co-founded and then left. For Oppenheimer, the measure represents a temporary diversion rather than a significant strategic change for Tesla. While analysts do not expect significant conversations resulting from Musk's offer, the proposal puts OpenAI at a 38% discount to its capital raising level from October.

Further complicating Tesla's situation, BYD Company (BYDDF, Financials) surprised the market this week by introducing free sophisticated driver-assistance technologies across most of its range. Since Tesla has long paid a premium for its Autopilot and Full Self-Driving software, the action fuels rivalry in the EV industry.

Reflecting investor discomfort about declining demand and increasing competitiveness, Tesla shares have dropped 15.7% over the last month. Shares were trading at $339.86 as of Monday, 12:01 p.m., the lowest level since mid-November.