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Tesla: Where Did All Those Pre-Orders Go?

Shares of Tesla (TSLA) are trading higher on Thursday, a day after Chief Executive Elon Musk made another big purchase of the company's stock.  Not everyone is convinced it's a wise investment. Vertical Group's Gordon Johnson reiterated a Sell rating on the shares today, writing that his estimated cancellation rates and share losses make him cautious on the stock. This is bad news for Tesla, he adds.