Tesla Shares Set For 6th Straight Session In Red? What's Dragging Them
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) shares are expected to extend losses to a sixth straight session due to the company's strategy of relying on price cuts to boost volume, which is seen as clouding the near-term margin outlook. Other factors include macroeconomic conditions and rising rates. The stock could test downside support around the $214 level.
August 18, 2023 | 11:29 am
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Tesla's strategy of relying on price cuts to boost volume and macroeconomic conditions are causing the stock to potentially extend losses to a sixth straight session. The stock could test downside support around the $214 level.
Tesla's strategy of relying on price cuts to boost volume is seen as clouding the near-term margin outlook, which is negatively impacting the stock price. Additionally, macroeconomic conditions and rising rates are also putting pressure on the stock. The stock could test downside support around the $214 level, indicating further potential downside.
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