NEW YORK ( TheStreet) -- Shares of Zillow (Z) were under pressure Tuesday after the company was the subject of a negative report by Citron Research, a controversial firm whose principals "most always hold a position in any of the securities profiled on the site."
In its report, Citron, which is led by Andrew Left, questions both the stock's valuation and Zillow's model, saying it is a "terminal business story."
Zillow shares were most recently trading at $41.54, down nearly 6.5%, on volume of nearly 6.7 million, more than seven times the issue's trailing three-month daily average.
TheStreet recently spoke with Zillow CEO Spencer Rascoff and discussed a number of topics, including the company's share price, the housing market, and QE3.
Electric car maker Tesla Motors (TSLA) was down sharply, off 8.48% to $28.06 after the company cut its 2012 guidance and announced a follow-on offering to sell 4.3 million shares. In a filing with the Securities and Exchange Commission, Tesla said it now anticipates 2012 revenue of between $400 million and $440 million, as its Model S production has been slower than anticipated. The company had previously expected a range between $560 million and $600 million. Analysts polled by Thomson Reuters are looking for $542.6 million in sales for the full year. Third-quarter revenue expectations were also cut, with the company saying it sees revenue between $44 million and $46 million. The current Wall Street consensus is for revenue of $83 million in the September-ending quarter. Tesla said it expects to deliver between 200 and 225 Model S vehicles this quarter, with an additional 2,500 to 3,000 slated to be delivered in the fourth quarter.
Shares of Internet search giant Google (GOOG) continued to reach new highs on Tuesday, gaining another 1.35% to hit $759.51. Earlier, shares had reached a peak of $764.89, surpassing the all-time high set in November, 2007. Interested in more on Google? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull
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