Why the Big Freak-Out Over That 31-Second Flaming-Tesla Video Is Dumb
Posted in: UncategorizedAs viral videos go, this 31-second clip packs a lot of firepower or heat or [insert your own pun here]. Posted by YouTube user Aj Gill on Tuesday with the title “Tesla car on fire” and a description reading “tesla car on fire off ramp on 2167 willies t. exit in kent, wa.,” the video has gone viral, earning more than 400,000 views as of this writing — and contributing to a stock dive for electric-car company Tesla.
Yesterday, as the video took off — Gawker Media’s Jalopnik blog helped popularize it — Tesla stock lost $12.05 in value to close at $180.95. Today, TSLA has continued its descent.
Keep in mind, though, that yesterday morning R.W. Baird analyst Ben Kallo downgraded his rating on Tesla’s white-hot (until now) stock to “neutral” from “outperform” — a move unrelated to the flaming-Tesla video. His target price for TSLA: $187 — which means that you can now arguably regard TSLA as a bargain, given where it’s trading today. (UPDATE: As of 1:21 p.m. ET, TSLA is in the $171-172 range.)
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