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Tesla holds $200 as Apple backstop teased

May 21, 2019 12:11 PM ETTesla, Inc. (TSLA) StockTSLABy: Clark Schultz, SA News Editor482 Comments
  • Tesla (TSLA -0.5%) seems to be hanging in there despite the eye-opening capitulation by former uber-bulls Adam Jonas (Morgan Stanley) and Dan Ives (Wedbush) this week and some more Model 3 pricing news.
  • The company "significantly" reduced the base price of its newly upgraded Model S and Model X vehicles, notes Electrek. The website reports that the standard 285-mile range Model S starts at $78K and the Model X starts at $83K for the 250-mile range.
  • The EV automaker responded to the pricing development: "Like other car companies, we periodically adjust pricing and available options. These pricing changes represent a reduction of about 2% to 3% in Model X and S prices. Last week, we raised US Model 3 prices by 1%. By any reasonable standard, these small changes are not newsworthy."
  • On CNBC this morning, Roth Capital Partners analyst Craig Irwin stated that Apple made a serious bid to acquire Tesla at $240 per share around 2013 and teased the idea that the company could still be interested at the $200 level with Apple's Project Titan still alive. Irwin sees Tesla's shares nearing their floor even as he concedes Model 3 demand is being hurt by the lack of a true $35K version.
  • There's also the question of Elon Musk and margin calls being floated around. Any thoughts?

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