
Tesla: UBS ‘Sell’ Recommendation Tanks Stock by -5.5%
In an almost unheard-of action for a Wall Street investment banking firm, UBS downgraded Tesla Motors Inc. (TSLA-$267.39) to a “sell”, driving the price of the shares down 5.5 percent, or -15.49.

In an almost unheard-of action for a Wall Street investment banking firm, UBS downgraded Tesla Motors Inc. (TSLA-$267.39) to a “sell”, driving the price of the shares down 5.5 percent, or -15.49.

When Tesla Motors Inc. CEO Elon Musk unveiled a line of home and commercial battery packs a week ago, he said Tesla was “trying to change the fundamental energy infrastructure of the world.” Although the system Musk announced was better than the competition, the cost was assumed to be too expensive except for home solar systems. But now it turns out that Tesla’s new batteries do not even make economic sense to back-up rooftop solar systems–at least not yet.