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These stocks aren’t done falling

Tesla (TSLA)

After the closing bell on Wednesday, Tesla released its fourth quarter results. For the second quarter in a row, the company announced its greatest quarterly loss to date. For the second quarter in a row, shares of TSLA rose in the aftermarket, dampening my hopes that I might profit on the small put option I bought on TSLA a couple of days earlier. What was different this time is that the company did not re-adjust its Model III production targets downward. Of course, this all happened only about a day after another of Elon Musk’s companies, SpaceX, launched Musk’s own Tesla Roadster into orbit around the sun with a simulacrum of Musk behind the wheel and David Bowie’s “Life on Mars” as the soundtrack. I can honestly say, it was a beautiful moment. Perhaps I’m still, to some extent, an Elon Musk fanboy/cultist, but I just thought maybe this time… The day will come when even fanboys will demand more of Tesla than merely “not cutting production targets” in order to view a quarterly report as a victory. Tuesday was not that day, but it is coming.


Chart courtesy of www.stockcharts.com

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Julian Close

Julian Close became a stockbroker in 1995. In his 20 years of market experience, he has seen all market conditions and written about every aspect of investing. Julian has also written extensively on corporate best practices and even written reports for the United Nations. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.