Tesla's Stock Drops Below Key Level, Leaving Competitors Far Behind
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.