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Tesla Inc. just does not get to take a break.
If the defeat triggered by a SEC investigation into CEO Elon Musk's tweets about the automaker's privatization was not enough, a storm of tweets that mocked the agency and an unflattering comparison with Lehman Brothers Holdings Inc. were even more valuable. The shares extended their losses for a fifth consecutive session on Monday, dropping 4.3% to lows for more than 18 months.
The stock rebounded after office hours, recovering about 1%, after Macquarie started covering the Tesla (tsla) with a note of outperformance.
Investors continue to punish Tesla even as its model 3 is becoming one of the best-selling sedans in America. The company has been successful in meeting its third quarter electric car forecast, which has led JPMorgan to strengthen its estimates.
The stock closed at its lowest level since March 2017 on Monday, cutting more than $ 10 billion of its market capitalization in one week.
"The automotive industry is on the brink of a decades-long transformation," driven by innovation and disruptive technology, that Tesla is "uniquely positioned" to lead, said analyst Macquarie Maynard Um in a note .
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