Tesla Has Been Getting Hammered

Elon Musk PuzzledJewel Samad/AFPTesla shares have fallen nearly $US80 from their peak.

After recovering some momentum following a selloff in September, Tesla stock is once again getting clobbered.

Investors regained confidence in CEO Elon Musk’s electric-car startup following the debut of the Model D at a spectacular event in Los Angeles in early October.

But since mid-November, the stock has been sliding. It closed on Monday at $US214, down from a recent peak of $US259, which it hit on Nov. 14.

Shares are now well below a trading-day high of $US291, achieved on Sept. 4.

Why the dip?

Some of is probably due to noise around the company. There was a dustup over the specifics of Tesla’s relationship with BMW. Both Daimler and Toyota, two former Tesla partners, decided to sell their stakes in the company.

It’s also unclear whether Tesla will meet its 2014 sales goals.

Still, the stock is up over 1000% since Tesla’s 2010 IPO.


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