Tesla Motors, Inc. (TSLA) saw a big move last session, as the company’s shares fell by over 11% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $193.91 to $218.64 in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as the company manufacturing electronic vehicles has seen 2 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
TSLA currently has a Zacks Rank #5 (Sell) while its Earnings ESP is positive.
Some better-ranked stocks in the same sector include Modine Manufacturing Company (MOD), Douglas Dynamics, Inc. (PLOW) and Volkswagen AG (VLKAY). All these stocks hold a Zacks Rank #1 (Strong Buy).
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