Having been “on fire” for most of the year – managing a simply remarkable (Venezuela stock market-like) 472% gain from the start of the year to September highs; it appears the momentum stock of the year is ‘running out of gas’. Now down over 22% from its highs, Elon Musk’s experiment in exuberance has entered a bear market. Indices most levred to the momo mayhem are struggling this morning also with NASDAQ leading the ‘charge’ lower. At 3-month lows, TSLA is now up ‘only’ 335% YTD…
maybe – as @ECantoni noted, replacing ORCL with TSLA in the NASDAQ 100 in July was not such a great idea after all…
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/4UA2nCTzveo/story01.htm Tyler Durden