The incredible six-day, 60% rally in Tesla Inc. that left Wall Street watchers scratching their heads screeched to a halt Wednesday. “Look, everybody has a pain threshold,” Steve Eisman, senior portfolio manager at Neuberger Berman Group, said on Bloomberg television Wednesday. Some also pointed to the significant amount of short interest in Tesla and said at least part of the rally was explained by investors exiting bearish positions. “At the end of it all, there’s a big sentiment shift,” said Ben Kallo, a Baird analyst with the equivalent of a hold rating on Tesla’s stock. Institutional growth investors are starting to look at it as a real company that can make money.”

Source: Los Angeles Times February 05, 2020 18:56 UTC