Tesla Shares Doing the ‘Electric Slide’

Tesla Shares Doing the ‘Electric Slide’ (MarketWatch)

Shares of Elon Musk’s Tesla Motors fell for the third straight day yesterday, losing 5 percent of their value in a single trading session. With shares ending the day at $152.53, down 40 points from their high of $192.50 on Sept. 30 of this year, investors are learning the hard way that the company’s value is highly dependent upon news events. The three-day slide has been attributed to two separate car fire incidents last week. For the year, shares have gained 350 percent. But is now the time that those gains are taken back?

Wayne Ellis

Wayne Ellis has been involved in the financial publishing industry for more than 15 years. During that time, he has helped to edit, to market and to launch products and services for Ernst & Young, LLC, Fidelity Investments, Agora, LLC, and Eagle Financial Publications. He currently puts his broad-based experience and industry expertise to use as a contributing writer for Eagle Financial Publications. He also is a graduate of Arizona State University.

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