Tesla Motors Rebounds From Morning Lows

Tesla Motors Inc TSLA share are unchanged at $246.99 in Tuesday's session. The catalyst for the sharp decline off the open was the announcement the company fell short of its delivery forecast by 1,100 cars in Q1. The company blamed the shortfall on shortage of parts from suppliers.

After a lower open, it dropped another $0.50 and found support at $240. The ensuing rally had Thursday's close in mind ($246.99, which represents it highest close since September 28), but has slipped under that level.