Stocks in Red: JPMorgan Chase & Co. (JPM), GoPro Inc (GPRO) and Tesla Motors Inc (TSLA)

JPMorgan Chase & Co. (NYSE:JPM), GoPro Inc (NASDAQ:GPRO) and Tesla Motors Inc (NASDAQ:TSLA) were the three stocks under the spotlight on Wednesday, as Fox Business News reporter Nicole Petallodes gave her piece of story for each of the stocks.

JPMorgan Chase & Co (NYSE:JPM)

The day kicked off with some hard news that came in from JPMorgan Chase & Co. (NYSE:JPM), which reported that it’s Chairman and CEO, Jamie Dimon, has been diagnosed with a cancer. The news had resulted in some impact on the shares of the company, as JPMorgan Chase & Co. (NYSE:JPM) tanked by more than 1% yesterday. Petallodes said that Dimon’s cancer is curable and has been caught early, while she sees the share prices on a weaker side than the comparable financial stocks.

GoPro Inc (NASDAQ:GPRO), which made its stock market debut last week fell as much as 14% on Wednesday, where it closed at $42.04. Petallodes commented on the first drop of GoPro Inc (NASDAQ:GPRO) as she said that it was priced at $24 and was up by nearly 50 bucks. “Now there is some heavy short interest into GoPro Inc (NASDAQ:GPRO), so people are either taking profits or also I see some shorts getting in there.”

At the same time, Tesla Motors Inc (NASDAQ:TSLA) felt the Norway pinch after its shares tumbled down by more than 4% on Wednesday. Tesla Motors Inc(NASDAQ:TSLA)’s sales numbers shrank in Norway, an area which is considered among one of the top markets for Tesla in Europe. The electic car maker wrapped up June with just 536 car sales as against 1,493 cars sold in March. Petallodes said that Tesla Motors Inc (NASDAQ:TSLA) had posted a gain of nearly 103% over the last 52-weeks, but lost significantly post releasing the Norway sales numbers. Apart from Norway weakness, few of the investors are also concerned about the recent memorandum of understanding signed by LG Chem’s to construct a battery plant in China, which could threaten Tesla’s plans for China.

Disclosure: none

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