Whilst the main market closed moderately weak, there was very severe downside in Tesla Motors (TSLA), which settled -10.4% @ $196.66. The takeover bid for Solarcity (SCTY) has resulted in almost all analysts turning their backs on the once greatly favoured CEO of Musk.
A rough day for TSLA stock holders, as the big $200 threshold failed to hold. There were some clear 'bargain hunters' appearing at the open, but with renewed latter day weakness.
Just one of many analysts...
Oppenheimer have finally awoken to the fact that $385 is a rather nonsensical upside target.
To be clear, I like TSLA as an innovative company, but the underlying (if not obvious) issue is that TSLA does NOT make money.
The fact Musk now wants TSLA to take on the debts and cash-hungry company of SCTY seems borderline madness, and its somewhat a relief to see even the mainstream recognise it.
I'd not consider buying TSLA even at the Feb' low of $141.05. Maybe the 50/40s would be tempting, but even then, until TSLA makes it clear that it intends to turn a profit, there seems zero point in getting involved.