Options Expert Nic Chahine On Tesla: 'I Would Not Be Surprised To See $165 In The Next Couple Of Weeks'

Speaking to Benzinga, Options Expert Nic Chahine said that Tesla Motors Inc TSLA is a short pick of his, and it’s headed down in the way he expected.

“I could be headed lower. I would not be surprised to see $165 in the next couple of weeks especially if markets continue to correct,” he said.

Chahine said that the street loves to trade Tesla on high valuation and based on innovated, but Chahine doesn’t see the innovation in batteries.

He also pointed out that any delays in the completion of the gigafactory could mean big negative impacts on revenues on what the Street expects.

“In uncertain times, traders are likely to throw away frothy names first,” he said.

Chahine prefers Alibaba Group Holding Ltd BABA to Tesla when it comes to momentum stocks.

“At least Alibaba has a story now and is not hoping on a good story down the line,” he said.