Editor’s Note: Related tickers: Tesla Motors Inc (NASDAQ:TSLA), Goldman Sachs Group, Inc. (NYSE:GS)
The wait is almost over. CEO Elon Musk of Tesla Motors Inc (NASDAQ:TSLA), doesn’t just want to revolutionize how people drive cars, but how people get from point A to point B. On Monday, Musk announced via Twitter that he will unveil plans for a new mode of transportation, called the Hyperloop, by August 12. Last year, in an interview with Bloomberg Businessweek, Musk said that the Hyperloop would resemble a tube capable of transporting someone from downtown San Francisco to Los Angeles in 30 minutes, implying speeds of around 800 mph.
Tesla Stock Recharges As U.S. Car Sale Outlooks Arise (Investors)
Luxury electric car maker Tesla Motors Inc (NASDAQ:TSLA) rebounded 7% and was trading near 116.50 in the stock market Wednesday afternoon, as new analyst comments on the car industry came out. The stock had regained half its 14% decline on Tuesday, when Goldman Sachs Group, Inc. (NYSE:GS) analyst Patrick Archambault set a lower price target of 84, based on the average of a bull-, middle- and bear-case car sales scenario. “U.S. auto production and sales continue to surprise to the upside, with the June SAAR (seasonally adjusted annual rate) hitting a remarkable 15.9 (million) units,” Jefferies & Co. analyst Peter Nesvold wrote in a research note Wednesday.
Tesla Has Room to Fall Further (WSJ)
Tesla Motors Inc (NASDAQ:TSLA) +9.67% shares are enjoying a big bounce Wednesday, but technicians say enough damage was done during the previous session’s tumble to suggest the stock still has further to fall in the short-term. The stock has room to fall another 12% to 15% from current levels before hitting a key support level, chart watchers say. On Tuesday, the electric-car maker’s stock dropped 14% to a two-month low of $109.05 after Goldman Sachs Group, Inc. (NYSE:GS) +0.63% issued a downbeat report on the stock. That was the biggest one-day decline since January 2012, when the stock was still trading in the $20s.
Tesla rises on Dougherty target price boost (DetroitNews)
Tesla Motors Inc (NASDAQ:TSLA)’s shares rose as much as 8.7 percent after a Dougherty & Co. analyst more than doubled her price target for the electric-car maker, a day after Goldman Sachs Group, Inc. (NYSE:GS) said the shares may fall. Tesla Motors Inc (NASDAQ:TSLA) gained 7 percent to $116.73 at 12:52 p.m. New York time after reaching $118.49, the biggest intraday increase since July 1. The Palo Alto, Calif.-based company’s shares have more than tripled this year, compared with an 18 percent climb for the Russell 1000 Index. Andrea James, an analyst for Dougherty & Co., raised her price target for Tesla Motors Inc (NASDAQ:TSLA) to $200 from $90 in a report Wednesday. Goldman Sachs Group, Inc. (NYSE:GS) on Tuesday said the shares could decline to $84 and $113 under a best-case scenario. That spurred a 14 percent drop. Goldman Sachs Group, Inc. (NYSE:GS) also cut its auto sector rating to neutral.
