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Tesla Motors Inc Trashed By Pacific Crest

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Tesla Motors Inc (NASDAQ: TSLA) shares are trading lower by $13.80 at $183.14 in Tuesday's session. Negative commentary from Pacific Crest has investors exiting the issue in a big way.

After shrugging off a price target reduction from Adam Jonas of Morgan Stanley, the issue is in full retreat in Tuesday's session. After a lower open, it managed a $0.60 bounce to $193.12 before continuing lower.

The issue is approaching a critical support level. After bottoming last Thursday at $182.41 and at $182.75 on Monday, it's now approaching that level in today's session. This marks the lowest level for the issue since it bottomed in March 2015 at $181.40.

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