Tesla is taking a dive
Tesla shares are wobbling in Tuesday trading, down at times around 4% to $184. The dip is being blamed on a comment from Citron Research, which fired off a tweet: "Citron shorting $TSLA Supply AND demand problems should take down to $100 by years end. News flow all around does not look good for stock."
The company has been getting hammered since the start of 2016, with the stock down 23%. Shares are well off their peak of $291, hit back in 2014. On Wall Street, several analysts have reduced their expectations for Tesla, trimming target prices.
The startup electric carmaker introduced its much-anticipated Model X SUV last year and plans to reveal a prototype version of its Model 3 mass-market car in March. But in 2015 and 2014, Tesla struggled to meet guidance for vehicle deliveries, leading to skepticism among investors that the company could justify a market cap that had climbed above $30 billion.