Bear Market Momentum Stocks: Tesla Motors (TSLA)
Click to EnlargeTesla Motors (TSLA), everyone’s favorite electric-car maker, is down nearly 27% from its late February peak and has been diving toward its 200-day moving average — a level that hasn’t been breached since September 2012.
Excitement in TSLA has been driven by a number of things, such as an eventual release of the more affordable Model E, or the much-vaunted plans for the Gigafactory — the jumbo-sized battery factory that Tesla estimates by 2020 will exceed 2013 global battery production.
TSLA stock at one point boasted 684% returns within the past year, but it’s all unraveling now. Even in the midst of a small short-term rebound, Tesla still appears to be succumbing to its worst breakdown since last November.