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