Musk tweeted that the Model S"proceeds to Plaid speed" this week, because it could go from 0 to 60 mph in only under 2 seconds, which he boasted makes it the quickest production car ever made. The Plaid, that has a starting price of $120,000, will have a battery range of 390 miles, while the Plaid Plus will have cost about $30,000 more and also have a battery assortment of 520 miles. Wedbush analyst Dan Ives reiterated his outperform rating and $1,000 stock price target, saying he remained"fully bullish" on Tesla as well as the EV market despite near-term speed bumps, for example China demand concerns. The inventory had jumped 4.6% on Friday to snap a four-day losing series. It has lost 15.1% year to date through Friday, while the S&P 500 SPX, -0.29percent has advanced 12.6%.
Tesla stock slips after Plaid Plus model canceled
Shares of Tesla Inc.. TSLA, -1.93% dropped 0.3% in premarket trading Monday, following Chief Executive Elon Musk tweeted on the weekend that it has cancelled the Model S Plaid Plus electric vehicle, because the normal Plaid model is"so great."