Here’s One Reason Why Tesla (TSLA) Stock Is Falling Today
NEW YORK (TheStreet) -- Tesla Motors (TSLA) stock is down 1.56% to $216.85 in afternoon trading on Monday after Oppenheimer analysts projected the automaker's production goals will be the main target for bearish analysts.
"We believe a successful raise of $1.7B in a secondary offering takes one of the clear bear arguments off the table for Tesla shares," Oppenheimer analysts noted, according to Barron's. "We expect bears to now focus their doubts on the company's ability to reach production targets and operating leverage."
Oppenheimer remains bullish on the electric automaker, and they have an "outperform" rating at the firm.