Options Traders Helped Tesla Stock Soar. Now It’s Falling.

After eight straight gains,

Tesla

stock is down. There is no smoking gun to blame Friday’s drop on. Shares just hit $200 too soon, driven by everything from stock chart patterns to options traders to ballooning investor expectations heading into a big event.

Tesla

stock has dropped 5.8% Friday, while the

S&P 500

is little changed and the

Nasdaq Composite

is off 0.8%.