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Why Tesla Stock Pulled Back Today

TheMotleyFool

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Tesla (NASDAQ: TSLA) stock has had an incredible run this year -- up 376% through Friday's close -- but even the best electric cars need to pause and recharge eventually. What's interesting about today's sell-off is that it's coming at a very strange time.

This morning, investment bank Wedbush announced it is raising its bull case price target on Tesla stock from $2,500 a share to $3,500, reports TheFly.com. And Tesla stock is down 2.5% on that news (as of 11:20 a.m. EDT)? Why?

Image source: Getty Images.

Source Fool.com

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