Shares of Tesla Inc. TSLA, -5.03% were suffering a rare loss in premarket trading Friday, as a lower close would only be the second decline in 16 sessions. The electric vehicle maker’s stock was down 2.2% ahead of the open, after running up 24.4% amid an 8-day win streak through Thursday, and after soaring 63.0% over a 15-day stretch in which it gained 14 times. The 8-day win streak was the longest since the 8-day streak that ended July 22, 2022. The stock’s pullback comes as part of a selloff in the broader stock market, as futures ES00, -0.01% for the S&P 500 SPX, +0.22% fell 0.7%. CFRA analyst Garrett Nelson raised late Thursday his stock price target to $250 from $210, but lowered his rating to buy from strong buy, saying the “dramatic rebound” to start the year have led him to be a bit less bullish.
This article was originally published by Marketwatch.com. Read the original article here.