Tuesday, November 12, 2013

Tesla's Musk as Equity Analyst: "Stock's high price was a distraction, seems a better deal now" (TSLA)

After closing down $6.90 (4.77%) the stock is up $2.04 in afterhours trade at $139.84.
From CNBC:
Tesla Motors is not recalling its Model S electric cars, Tesla CEO Elon Musk told CNBC Tuesday, quashing speculation following the automaker's third battery fire incident.

"The headlines are extremely misleading," Musk told CNBC in an interview at the DealBook Conference. "If fire risk is your concern, you'd have a great deal of difficulty being in any better car than the Model S. [The Model S] is 5 times less fire risk than the average gasoline car. Moreover, we've never had a serious injury or death."

On Monday evening, editor-in-chief of tech news outlet BGR Jonathan Geller tweeted that Tesla may be considering recalling its Model S to "strengthen the undercarriage" following recent fires....MORE
It's probably time for a bounce but that gap just below $100 still looks like the intermediate-term target.