06 November 2013

Tesla tumbles

Noah Rayman has a Time article about Tesla:
Tesla Motors Inc. reported fewer than expected sales of its luxury electric cars in the third quarter, sending its stock price plunging eleven percent— representing a loss of more than two billion dollars in market capitalization— in after-hours trading.
Tesla reported higher than expected earnings, but said it delivered about 5,500 of its flagship Model S. Brian Johnson, an auto analyst at Barclays Plc, told Bloomberg he had expected 5,820 Model S sales.
The stock, which has risen more than five hundred percent this year, closed at $176.81 a share.
Rico says the market is crazy, we all know that, but doing a huge sell-off over less than six percent fewer sales than anticipated? That's crazy... (And they gotta get that damned SUV version out so my father can buy it.)

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