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Troubles have plagued electric-car maker Telsa Motors (TSLA) this year. Now there are signs it may be catching up with the stock.
TSLA is down for the fourth straight session today, its longest losing streak in almost two months. It’s also dropping at its 50-day moving average — a potential indication its longer-term trend has down lower.
Production concerns are the main bugaboo right now. Yesterday it announced plans to streamline management and communication. And today a formerly bullish Morgan Stanley analyst slashed his price target on concerns management will make less money than hoped on the flagship Model 3.
But this is only the latest problem for TSLA. Earlier this month CEO Elon Musk alienated investors with an epochally weird conference call. Meanwhile several key executives in its accounting and engineering offices have recently jumped ship.
Remember TSLA has always had its naysayers, but the bulls clung to hopes of it becoming a full-fledged mass-market automaker. Now there may be signs of that optimism finally breaking down.