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Tesla Motors ( TSLA ) stock wiped out an early gain Tuesday to close down almost 3% as short-selling outfit Citron Research panned the electric-car maker, ahead of the planned March 31 introduction of its mass-market Model 3. Meanwhile, chipmakers on the IBD 50 list that work in the connected cars field gained. “Citron shorting $TSLA,” Citron said in an afternoon Twitter ( TWTR ) tweet. “Supply AND demand problems should take down to $100 by years end. News flow all around does not look good for stock.” Citron shorting $TSLA Supply AND demand problems should take down to $100 by years end. News flow all around does not look good for stock — Citron Research (@CitronResearch) March 1, 2016 Tesla stock had been heading up to meet its 50-day line this week, just about touching it before the Citron report, but the electric-car maker holds a low IBD Composite Rating of 22 out of a possible 99. Meanwhile, on Tuesday, Tesla tweeted about how the MIT Technology Review has now ranked its Autopilot self-driving system among the top 10 Breakthrough Technologies of 2016, along with immune engineering and genetic editing of plants. Tesla Autopilot named an MIT @techreview Top 10 Breakthrough Technologies 2016 https://t.co/u3C9gJA0Ba — Tesla Motors (@TeslaMotors) March 1, 2016 Tesla has moved forward with autonomous-car technology, but partner Mobileye ( MBLY ) got hit in December after Citron called the camera-based car safety technology provider its 2016 “short of the year.” Car Chipmakers Go North Mobileye stock closed up 2.2% Tuesday but remained nearly 50% off its August all-time high. Two chipmakers that work in connected cars and self-driving cars on the IBD 50 list of leading growth stocks rose in the stock market today : Nvidia ( NVDA ), which is also a Tesla partner, and Broadcom ( AVGO ). Both companies serve a variety of fields and are Apple ( AAPL ) suppliers. Automakers talked up some of the technology in car debuts at this week’s Geneva International Motor Show — such as Daimler ( DDAIF ) with a Mercedes-Benz E-Class that can brake and park itself. Tesla’s also there, showing off its Model X crossover SUV. Nvidia, which counts Tesla and Mercedes among more than 50 carmaker partners, surged 4.4% Tuesday. Broadcom gained 3.3%, ahead of its Thursday afternoon earnings report. Broadcom stock has been consolidating and is about 8% under a buy point, while Nvidia is about 4% away and has just formed a cup base. Mobileye gets a 62 Composite Rating from IBD. Nvidia gets a best-possible 99 and Broadcom a 98. Other chipmakers also working in the car space rallied Tuesday, too: Qorvo ( QRVO ) by 5.1%, NXP Semiconductors ( NXPI ) by 4.2% and Skyworks Solutions ( SWKS ) 5.9%. Tesla stock closed down 2.9% Tuesday at 186.35. RELATED: Tesla Goes To Geneva Motor Show: What It Means For Model X . Image provided by Shutterstock . Scalper1 News
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