Tesla's Stock Drops Below Key Level, Leaving Competitors Far Behind
TL;DR Summary
Tesla's stock dropped 3.2% and fell below its 200-day moving average (200-DMA) for the first time since May 26, indicating a potential longer-term downtrend. The decline follows disappointing earnings and a three-day losing streak, with the stock on track for its worst three-day performance since December 2022. The stock is currently trading within an important support zone between the 200-DMA and $208. Over the past three months, Tesla's stock has shed a significant percentage while the S&P 500 has also experienced losses.
- Tesla stock drops below key 200-DMA chart level for first time in 5 months MarketWatch
- Tesla's competitors are a decade behind — with no leading contender yet Business Insider
- Tesla's broken 'triangle' warns of more stock-selling pressure MarketWatch
- It could take a decade for other automakers to catch Tesla — and none are 'leading contenders' just yet, exper Business Insider India
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