The sun is about to set on SunEdison (SUNE).

Once upon a time SunEdison was one of the most popular hedge fund hotel stocks, which however, just like Valeant, has led all of the hedge funds who were long the name (and still are) to ruin.

Case in point: yesterday the stock plunged another 25% following a DebtWire report that the company was in DIP loan negotiations with lenders, the final step before filing for bankruptcy, after talks to reach an out of court solution with 2nd lien lenders had failed.

This morning, the stock is down another 15% following ever louder concerns that a bankruptcy is imminent, and following a note from Axiom’s Gordon Johnson, arguably the most accurate forecaster in the name, who overnight lowered his 2016 year-end price target adjusts lower to $0.22/shr (85% downside from yesterday’s closing price) vs. $0.39/shr prior.

More importantly, he also notes that “should SUNE be forced to liquidate projects out of its 5.5GW backlog in a Bankruptcy, the impact to US solar market project fundamentals (incl. rooftop) could be detrimental.” This means that none other than Elon Musk may be slammed after SUNE has no choice but to file.

Here is Axiom’s full note”