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Tesla stock drops on fear that comes with low gas prices [w/video]

Tesla's stock price was down to around $206 earlier today, but it's back up to over $216 now. Friday, it closed at over $223. Some stock blogs are saying the price could go as low as $165 in the not-too-distant future. What's behind these wild swings that CNBC's Phil LeBeau calls, "the worst seven-day trading period ever for shares of Tesla"? One potential culprit is today's low gas prices. Those prices – currently hovering at around $2.65 a gallon in the US, the lowest in about four years – are affecting the cars people buy (sorry, hybrids), so it's not a huge leap to think they'll affect high-end electric cars, as well. A $50 drop in share price is pretty dramatic, and Bloomberg and others point the finger at gas prices. Ben Kallo, an analyst with Robert W. Baird & Co., wrote that, "We believe the recent decline in TSLA shares is largely driven by the concern low gasoline prices could impact demand if sustained for the long term." But there are other ideas, too. Since we don't always comprehend analyst-ese, we're not sure if Zev Spiro at Orips Research thinks gas prices are to blame, but it doesn't sound like it: A negative signal developed yesterday as a high volume break occurred below the slightly upward slanted neckline of the topping pattern, in the $219.20 area. The break below the neckline signaled a trigger of the bearish pattern and indicated a downtrend with a minimum expected price objective in the $165 area. In addition, yesterday's bearish trigger may result in downward momentum in the near term. Indicators are generally negative, adding to the overall bearish tone. Kallo remains positive, though, saying that, "We believe demand for TSLA's vehicles will remain strong." This makes sense to us, since TSLA has weathered drops before, only to climb to record highs afterwards. Watch a CNBC video report on all of this below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Supra successor may be all-electric sourced from Tesla; MR2 returning too?

Rumors of a revival of the Toyota Supra and MR2 have been swirling for years right up until just this week when high-level Toyota employees all but confirmed their return.
But now The Detroit Bureau has put together news from different sources suggesting that the next Supra might be all electric. The report cites recent comments from Toyota senior executives hinting at plans to work with Tesla on a new joint project. The FT-HS Concept (shown above) seems a logical inspiration for a new Supra.
And on the other side of the equation is Tesla's design chief Franz von Holzhausen who was quoted last year saying his company was looking at its next project, probably a sports car, that would follow next year's intro of the Model X. He went on to suggest the car would compete directly with BMW's 3 Series, which, in coupe form, could be a worthy competitor to a Supra as well.

Recharge Wrap-up: Audi 'Plugging In' video, Citroen e-Mehari rumors

Audi is sponsoring the Newport Folk Festival with its "Plugging In" campaign. In celebration of the event, a video shows the history of the festival, and how plugging in the electric guitar changed music, similar to the way plugging in an electric vehicle changes the way we think about transportation. The video is focuses entirely on music, but at the end, we get the (ahem) plug from Audi: "Audi A3 Sportback e-tron — Plugging In Across America." Watch it above. The first image from Tesla's Firmware 7.0 update has made its way online. The photo shows what appears to be Tesla's new Autopilot feature. The view of the display also suggests that beta testing is happening on main roads between San Francisco and Tesla's home in the tech hub of Silicon Valley. See the photo and read more at Teslarati. The IRS has published a notice regarding its tax code overseeing the treatment of biodiesel credits. It says that, among other things, claimants must reduce their income tax deduction by the amount of the credits given for alternative fuel used or sold during a given quarter in 2014. Biodiesel producers and blenders were eligible for a tax credit of $1.00 per gallon. Read the notice from the IRS, or learn more from Biofuels Digest. Rumors suggest that Citroen will unveil a concept EV based on the C4 Cactus and classic Mehari at the Frankfurt Motor Show. L'Automobile Magazine is reporting that the French automaker has registered the name "e-Mehari," leading to speculation — and even a goofy rendering — from L'Automobile. There has been no official acknowledgement of the e-Mehari from Citroen, so let's not get too excited yet (especially you, Mr. Ewing). Read more from Technologic Vehicles, or in the (Google-translated) post from L'Automobile Magazine. Related Gallery 2015 Citroen C4 Cactus View 32 Photos News Source: YouTube: Newport Folk Festival, Teslarati, Biofuels Digest, IRS, Technologic Vehicles, L'Automobile Magazine Government/Legal Green Marketing/Advertising Rumormill Audi Tesla Citroen Alternative Fuels Biodiesel Concept Cars Electric Videos recharge wrapup