Boston, MA 10/25/2013 (wallstreetpr) – Tesla Motors Inc (NASDAQ:TSLA) has been gaining steadily before reaching a year-long high on September 30, 2013. After that the share price has been declining bit-by-bit and on Thursday it closed at $173.15. Trade analysts suggest that this company has reached its bubble for this year and that now is the best time to sell Tesla shares. Also they believe that despite third quarter results being around the corner, the share prices are not really going to sky rocket.
One of the famed critics of Weeden & Co. Steven Russolillo, Michael Purves has covered the shares of this company and believes that most investors have lost out on some extra profit by selling their shares by shorting on Tesla before September 30, 2013. But now is actually the ideal scenario when the investors must short on it. He states that since the company’s share price has increased 400% in the last year, they may be over-valued. And when the bubble bursts sometime in future, the investors will stand to lose if they don’t short it now. He also expects that this quarter’s earnings report will fill in the void in the basic fundamentals and not shoot-up the share price. Its Earnings report for this quarter is set to be released on November 5.
Changes in Tesla Motors
This year has seen a lot of changes in management as well as product wise. It has been launching new models of pick-up trucks sedans and other models. Also it has signed contract with AT&T for providing internet in its auto mobiles. Latest in the news is that it has recruited Apple’s Doug Field as VP of Vehicle Programs. Field was delighted and excited since e is basically an automobile man who had entered the automobile industry with a hope of building the best cars after which he joined apple for its fast paced engineering and technology deliveries. He states that now he has found an opportunity to do what he was initially meant to do.