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Home>UPDATE: Tesla shares suffer their worst losing streak in months

UPDATE: Tesla shares suffer their worst losing streak in months

UPDATE: Tesla shares suffer their worst losing streak in months

09/24/2017

By Claudia Assis, MarketWatch

Stock is second-worst Nasdaq-100 performer on Friday

Shares of Tesla Inc. notched their longest losing streak in more than two months, down for a fourth straight session and ending the week off 7.6%.

The stock was the second-worst performer on the Nasdaq-100 on Friday, suffering its lowest close in two weeks. Over the four-day losing stretch, shares fell more than 7%, tipping the stock to monthly losses of more than 1%.

Tesla (TSLA) shares on Monday closed at a record $385, supplanting a previous all-time close of $383.45 in June.

On Tuesday, analysts at Jefferies started their coverage on the stock, siding with the bears: They rated the shares their equivalent of sell and forecast the company to lose money at least until 2020, one year past what other analysts have predicted for Tesla.

See also:Tesla will be a money-losing business until 2020, analyst says (http://www.marketwatch.com/story/tesla-will-be-a-money-losing-business-until-2020-analyst-says-2017-09-19)

The Justice Department on Friday said that SolarCity, which Tesla bought last year, has agreed to pay about $30 million (https://www.wsj.com/articles/teslas-solarcity-hangover-1506107907) over government allegations it had inflated solar-installation costs to secure larger payments. A spokesman told The Wall Street Journal the company had valued the systems correctly.

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