JinkoSolar (JKS) shares plummeted 5.13% during intraday trading on Monday, following a significant downgrade by Citi analyst Air Ma. The stock's sharp decline comes as investors react to the negative outlook presented by the analyst report.

Citi downgraded JinkoSolar from Buy to Sell, a move that has clearly shaken investor confidence. Adding to the bearish sentiment, the analyst dramatically reduced the price target from Rmb 10.60 to Rmb 5, representing a cut of more than 50%. This substantial reduction in the expected value of JinkoSolar shares has prompted many investors to reassess their positions.

The downgrade appears to be primarily driven by concerns over the negative impact of U.S. tariffs on JinkoSolar's business. As a major player in the solar energy industry, JinkoSolar is particularly vulnerable to changes in international trade policies. The potential for increased costs due to tariffs could significantly affect the company's profit margins and overall competitiveness in the U.S. market, which is likely contributing to the pessimistic outlook from Citi.