Ciaccia cautioned investors on the issue of Elon Musk "starting to spread himself too thin" due to his interests in Space X. Ciaccia mentioned that Musk has talked about stepping down as CEO but there is no succession plan and no one is involved who is as charismatic as Musk and who can "lead and sell the company's story on Wall Street and to suppliers and customers." Heading into its earnings report on Wednesday, Tesla Motors Inc traded at $209.90, down 2.95 percent. Kevin Riley and Brianna Valleskey contributed to this report.