Diamonds and Dogs
Tesla Motors Inc. (TSLA)
Tesla Motors is burning rubber today, up 6.64% to $232.94. The electric automobile maker saw its shares rally ahead of the debut of its new battery business. Tesla hinted at the new business line earlier this year, and has said battery-storage applications could account for a third of its "gigafactory" output. The company is building a $5 billion battery factory outside Reno, Nev., which is expected to churn out cheaper and better batteries to power Tesla's mass-market car, the Model 3, on sale in the next two to three years. Share of Tesla climbed over $14.30 today, but are still well off of their 52-week high of $291.42.
Celladon Corporation (CLDN)
Celladon Corporation is getting destroyed today, down 80.64% to $2.64. The biotechnology company saw its shares fall after negative heart failure treatment results. Celladon said that Mydicar, its experimental gene therapy for heart failure, failed to the show any improvement over a placebo in its CUPID2 trials. The news led Wedbush analysts downgraded the company's stock to "neutral" from "outperform" today, while also slashing its price target by 90% to $3 from $29. Shares of Celladon fell over $11.00 to a new 52-week low of $2.62.