Whilst the main market closed moderately mixed, there was notable weakness in motor vehicle manufacturers. Ford (F), General Motors (GM), and Tesla (TSLA) settled significantly lower by -2.9%, -3.4% and -1.7% respectively. Broadly, the trio look highly vulnerable across the summer.
*I don't chart/follow GM, but it merits an inclusion, after today's lousy May sales data
Suffice to add, of the three, I favour Ford, as it notably never required a bailout from the US taxpayer.
TSLA is an industry leader in terms of innovation, but it remains a loss making venture. Further capital injections will be necessary to have any hope of meeting the touted 500k annual production target, and many analysts seem resigned TSLA will struggle just to achieve half that number.
In terms of price... if the main market rolls lower again this June/July, first targets will be..
F - the low $11s
GM - $26s
TSLA - $150/140s.