Autos

Tesla’s key level after Battery Day disappointment, according to trader

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Tesla’s Battery Day was highly anticipated but was disappointing to many.

Deutsche Bank Research, however, upgraded Tesla’s stock on Wednesday to a buy on what it saw as a significant technological lead versus other automakers.

On the other hand, Baird named the stock a “bearish fresh pick” on a “lack of upcoming catalysts.”

Then there were Tesla investors, who sent share prices down 10% on Wednesday to $380.26. Tesla’s stock was down 3% in Thursday’s premarket. Shares are still up nearly 356% this year.

One of the stock’s key attributes is that investors either love it or hate it, said John Petrides, portfolio manager in the wealth management division of Tocqueville Asset…



Source cnbc.com

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