Tesla Stock: Well, the Brakes Work

After a few ebullient days in the left lane, Tesla Motors’ stock has careened to the right, dropping well below its offering price after an impressive IPO.

Shares in the electric-car company, which spiked to $30.42 before closing Friday at $19.20, slipped more than 15 percent Tuesday, falling to about $16–a dollar below the initial offering price of $17.

Quite the round-trip journey–and completed in just a week. Seems investors are slowly awakening to Tesla’s (TSLA) fundamentals, which, as I’ve noted here before, don’t exactly inspire the same confidence as its technology.