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Tesla had a rough day

Benjamin Zhang
Screen Shot 2015 06 16 at 11.19.18 AM
Screen Shot 2015 06 16 at 11.19.18 AM

(NASA / Youtube)

Tesla shares closed down 4% Tuesday, at $267.88.

The dip comes after more than three months of steady gains, minus the volatility that has characterized Tesla's stock price for the second half of 2014.

Since bottoming out at $185 per share on March 27, the stock has rebounded big time, ended last week at $280.

We're not really sure exactly what triggered Tuesday's selloff.

However, Deutsche Bank analyst Rod Lache published a note Tuesday downgrading Tesla from "buy" to "hold." Deutsche Bank upped its target price t0 $280 from $245, but the Lache wrote that value of its Tesla future potential has already been factored into the current price.

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"And we believe that TSLA could become a dominant player," he wrote. "But at this point, Tesla's shares appear to already reflect this opportunity."

TESLa Stock
TESLa Stock

(Screenshot via Yahoo Finance)

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