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Investors beware… Tesla is slumping to a two-year low

Published

3 years ago

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Elon Musk during SNL appearance

In worrying signs for investors, Tesla Inc shares have fallen to their lowest levels since June 2019.

Analysts are concerned the EV manufacturer is approaching a technical level that indicates the strong possibility of further future losses.

The poor stock performance in recent times is also coupled with the stock being on the verge of a “death cross”.

A death cross is when “a security’s average price over the last 50 days falls below its 200-day moving average”.

SHANGHAI, Oct. 19, 2020 — Photo taken on Oct. 19, 2020 shows the Tesla China-made Model 3 vehicles which will be exported to Europe at Waigaoqiao port in Shanghai, east China, Oct. 19, 2020. U.S. carmaker Tesla announced on Monday that it would export the made-in-China Model 3 to Europe, marking another important milestone for its Shanghai Gigafactory. The first batch of exported sedans will leave Shanghai next Tuesday and arrive at the port of Zeebrugge in Belgium at the end of November before being sold in European countries, including Germany, France, Italy, Spain, Portugal, and Switzerland. (Photo by Wang Xiang/Xinhua via Getty) (Xinhua/Wang Xiang via Getty Images)

This is often viewed by analysts as a sign that share prices will continue to fall.

Tesla’s shares last suffered from this trading pattern back in 2019, which saw a 40 per cent decline in the company’s share price.

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William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Warner Brothers & Discovery considers splitting up to boost stock value

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Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

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This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Investors worldwide grow increasingly optimistic about Trump winning the election

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1 week ago

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Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

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Kyle Rodda from Captial.com joins to discuss all the latest.

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Netflix expands use of ads despite slow subscriber growth

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Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

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