Tesla Inc. (NASDAQ: TSLA) went into Wednesday’s earnings report with sky-high expectations. The stock was primed for a big move either way after doubling in value since April and trading in a tight range between $425 and $445 in recent weeks. Investors were waiting to see whether the company’s fundamentals could justify that 255 price-to-earnings (P/E) ratio we’d been talking about recently, or if cracks were finally starting to show.
As we’ll see below, they got their answer quickly. Shares slid in after-hours trading and were still under pressure in Thursday’s pre-market session as investors digested the third earnings miss of the year.
