This Bear Market Is Looking for the Next High-Flying Victim
A Tesla Model Y on display inside a Tesla store at the Westfield Culver City shopping mall in Culver City, California, U.S. Tesla’s narrow business makes it vulnerable among high-flying stocks.
Photographer: Bing Guan/BloombergHi, it’s Ed Harrison and I write about markets and policy for Bloomberg’s Markets Live. This is The Everything Risk, where each week I’ll unpack the web of risks for consumers and investors in a shifting markets landscape.
This bear market has legs and it’s looking for its next victim. If you’re wondering who may be the next high-flying stock to succumb after Facebook’s denouement in February and the recent battering of Netflix, take a look at Tesla. I know, Tesla beat on earnings just last week. And CEO Elon Musk projected a bright future for car deliveries. Still, even he can’t fight a deteriorating macro environment. And Tesla’s stock is priced for perfection.