Tesla ( (TSLA) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Tesla’s recent stock decline can be attributed to a confluence of events, including a Cybertruck explosion in Las Vegas under investigation for possible terrorism, which Elon Musk claims is unrelated to the vehicle. Skepticism persists about Tesla’s ability to meet its ambitious 2024 growth targets due to challenges in the global EV market. Additionally, Cathie Wood’s Ark Invest has sold a significant portion of Tesla shares, possibly to capitalize on the recent price surge. Tesla also faces safety challenges, addressing a software issue affecting over 77,000 vehicles in China.
More about Tesla
Average Trading Volume: 92,327,213
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1296.4B
For further insights into TSLA stock on TipRanks’ Stock Analysis page.
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