The last time the stock breached $193, April 15, it traded down to $184.32 before reversing and closing that day at $193.91.
That fact is probably worth more than a couple thousand words of analyst theses which rhymes with....
From Marketwatch:
Goldman remains bearish on Tesla
Shares of Tesla Motors Inc. TSLA -4.55% sold off as investors worried about deliveries slightly below expectations and steeper operating expenses in the second quarter, analysts at Goldman Sachs said in a note Thursday. Goldman kept its neutral rating on Tesla's stock and a price target of $200, saying it is still "meaningfully below" analyst consensus in terms of earnings per share this year through 2016....MOREFrom another corner of the Dow Jones empire, Barron's Stocks to Watch:
Tesla Motors: When Good Isn’t Good Enough
On first glance, Tesla Motors’ (TSLA) earnings were rock solid. The market reacted, however, as if they were anything but....MORE
Tesla Motors reported profit of 12 cents a share, beating forecasts for 8 cents. Its sales, too, were higher than predicted: Revenue rose to $713 billion, topping the Street consensus for $684 million. That should have been enough, right?
Wrong. Shares of Tesla have dropped 8.9% to $183.47 at 9:50 a.m. today, as investors voice their displeasure. JPMorgan’s Ryan Brinkman and team explain why Tesla’s earnings weren’t good enough:
Tesla reported 1Q results Wednesday which, while impressive overall and evidencing continued solid progress, were only roughly in-line with Street and JPM expectations, and did not reveal significant incremental news flow or feature substantially raised production or delivery guidance. Furthermore, in a move reminiscent of 3Q last year, the firm guided to continued large sequential increases in operating expense which is likely to have the effect of depressing near-term consensus estimates (our own forecast falls modestly). Tesla is clearly unique in many respects amongst our coverage, but it is likely worth pointing out that the trend this earnings season has been for autos and auto parts firms to trade off modestly on even strongly better results, and for Tesla the bar was likely set higher than for most.Morgan Stanley’s Adam Jonas and team worry about the lack of partners for Tesla Motors’ big battery factory:
Our biggest worry is the continued lack of formal commitment from Tesla’s Giga partners. While we understand the planning of this ambitious project requires Tesla taking the lead, we see elevated risk until letters of intent become indelible stamps of commitment. Balancing the needs of state governments, foreign partners and laboratory science may be Tesla’s biggest challenge to date. As holes in various deserts are dug, does Tesla suffer a loss in negotiating power? We think a resolution will be a very important relief to the story....
