Sell Tesla: Wall Street releases the rarest of votes for Elon Musk

Elon Musk is on Twitter scolding news organizations for quoting analysts with a bullish view of Tesla Inc.

Of 31 analysts covering the stock, 10 say selling, or 32 percent with a rating compiled by Bloomberg. Compared to members of the S & P 500 Index, an indicator for US large caps, which is the highest in absolute terms and near the top according to the proportion of bears.

Wall Street businesses rarely tell customers to get rid of a stock – Less than 5% of recommendations are sold. "Hold" is the polite way to express doubt.

But the subtleties were abandoned when it comes to Tesla, where Musk fought with bears on Model 3, his attempt to put electric cars in the aisles. Musk has repeatedly returned to investment banks to seek billions of dollars after burning money at rates that caused concern among some investors

. This is the kind of company that pushes analysts to take very firm opinions, "Michael Antonelli, an institutional equity sales trader and general manager at Robert W. Baird & Co.'s" C & # 39; is a name that exchanges a lot about feeling, and that feeling changes from minute to minute. "

Only one company in the S & P 500, Under Armor, has as many sales as Tesla, although they are offset by more purchases and outlets. About the sportswear manufacturer is justified considering its 59% drop from its 2015 peak.

It's hard to say that Tesla's dumping has been a good tip. automaker Palo Alto, Calif., are up six of the last seven calendar years, including a 344 percent rise in 2013 that would have busted any firm in the S & P 500.

The ride, however, Although Tesla is just 5% below its current level 12 months ago, it has dropped 35% from its 2017 high, and has even increased 22% from its lows. of 2018.

Kamran Mumtaz, a spokesperson for Tesla, declined to comment.

Technology Megacaps also famous get a much more enjoyable treatment. Amazon.com Inc., the stock covered by the largest number of analysts, has just three hold and a sell recommendation for 48 purchases. Apple Inc. has 27 purchases, 19 catches and zero sales.

Four other companies, including Consolidated Edison Inc., Campbell Soup Co. and Torchmark Corp., have a higher proportion of sales, but with much lower ratings.

Tesla fell for a fifth day Friday, slipping 0.1 percent from 10:45 am in New York, as investors wondered if model 3 car production would be supported. The stock jumped 20% in June after losing 22% in March and has fallen by nearly 10% since the beginning of the month.