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Is Elon Musk losing his touch?

July 15, 2013: 2:59 PM ET

Click the chart to track shares of Tesla.

Investors can't seem to get enough of Elon Musk, but the Tesla CEO's announcement  failed to generate much excitement on Monday.

Musk has been talking about the hyperloop, an idea for a rapid transportation system, for about a year now, but details have thus far been limited.  At the recent D11 conference in May, he said that it would be three or four times faster than a bullet train, would never crash, and is immune to weather.

While a design could reveal a lot more about Musk's idea, the announcement didn't seem to capture the attention of investors. Shares of Tesla (TSLA) opened at a all-time high but quickly fell into the red. That's fairly rare for Tesla's stock, which has nearly quadrupled in value just this year.

Related: Tesla joins the Nasdaq-100

Traders on Stocktwits, where Tesla is a fan favorite, were particularly critical.

 jrgallaghr
$TSLA Musk sounds a little ummmmm koo koo

 traderjflaw
$TSLA MUSK "projecting" into the future is based on his hopes and dreams...without the credits...his company has 0 profits.

To be fair, the 10-year old Tesla did report its first ever quarterly profit in May, and blew past analyst expectations. But analysts aren't expecting another quarter in the black. Tesla is on tap to report results next week and is forecast to deliver an 82% drop in earnings per share for the second quarter.

Some traders suggested that investors may be taking a step back before next week's earnings news, given that Tesla has been on such a solid streak.

 SR5Group
$TSLA probably trends lower all week ahead of the E/R. People takings some profits after a parabolic run Bearish


CDA
A 10% correction would be healthy. Timing is bit odd considering listing status. Earnings next week will quickly bring a rally. $TSLA

But others don't think Tesla needs any kind of break. Citing the recent rise in gas prices, they think electric cars are looking even more attractive.

 thescientist
The longer oil is over $100 you can expect $TSLA sales to go up. Bullish

 Arbitrage_Drama
$TSLA Is any even watching Gas prices spike again? Just add another 1000 units for every dollar crude spikes... and oil is just at $105.

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Hibah Yousuf
Hibah Yousuf
Reporter, CNNMoney

Hibah Yousuf is a reporter at CNNMoney, where she covers stocks, bonds, commodities and currencies trading across the globe, as well as corporate earnings and other markets-related news. Prior to joining the site in 2009, she interned at Money Magazine.

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