As trading halted today (11/10/2016), Tesla Motors Inc’s stock price was down by 0.42%, equivalent to $0.85. A share in the American electric car producer is currently valued at $200.10, giving the corporation a market capitalization of $30.41 billion.
From around 10:00 AM EST to 10:30 AM EST, Tesla’s share price fell by around $2. This marked their stock’s daily low, at just $199.02. Tesla Motors Inc’s stock is currently around $5 off its 5-day low price.
Tesla Motors Inc (TSLA) Downgraded by Vetr Analysts
Analysts at equity research firm, Vetr, recently downgraded Tesla Motors Inc from a “buy” to a “hold” rating. The majority of equity research firms have placed Tesla’s stock under the “hold” rating, with a handful giving it a “sell” rating.
Despite the worsening ratings, many investors are still attracted to Tesla due to its massive growth potential, and Eco-friendly business model. The EV sector is growing rapidly, and Elon Musk’s company is in a prime position to take advantage of this. The firm unveiled their new, affordable electric vehicle, called the Model 3, early this year, on the 31/03/2016.