Diamonds and Dogs
Tesla (TSLA) and the techs are bouncing back. Tesla is up 3% not far from all-time highs thanks to an upgrade and bullish comments from money manager, Ron Baron. The upgrade comes from Berenberg saying the battery car maker could have a "near monopolistic" opportunity to gain market share and out-perform rivals in the coming years. The analyst sees Tesla shares surging about 30% in the next year to $464 a share. Ron Baron on CNBC this morning expects Tesla to sell 10,000 cars a week as early as next year and a million cars a year by 2020.
Cheesecake Factory (CAKE) has cake on their face. The restaurateur is down 9% to a 7 month low after warnings about second-quarter same-store sales guidance due in part to unfavorable weather that reduced patio usage in the Midwest and East. Casual dining chains, and the restaurant industry overall, have been facing competition from cheaper groceries and discounts from fast-food restaurants.