Are the short sellers having a heyday? Is Wall Street having a blast playing Tesla stock?
Those and other suggestions have been made, but what can be said factually is TSLA is presently down from an opening price of $149.43 by 5.6 percent, or $144.45 per share on NASDAQ following an analyst’s downgrade by Lazard Capital Markets from “buy” to “neutral.”
The highly volatile stock immediately took a plunge this morning on the news that its valuation was based on an ideal execution of Tesla’s plans, and Lazard expects more bumps in the road.
A more severe downgrade happened in July 16, but TSLA soon rebounded.
Astonished stock watchers have alternately said TSLA has much room to run as a “next Amazon” versus bears who say its multiplied price cannot be sustained.
Is the end of a more than three-fold increase now begun, or will TSLA rebound again?
The trading day has another hour to go, and then there is after hours trading as well. The day’s range for TSLA has been $142.05-$150.50.
UPDATE: The stock closed at $147.38 per share, down $5.62 or 3.67 percent. At 6:30 Eastern time in after-hours trading it is hovering near this number.