Tesla Slides 4% Amid Plans For Layoffs, Pre-Earnings Jitters: Stock Chart Reveals Strong Bearish Trend
Portfolio Pulse from Surbhi Jain
Tesla, Inc. (NASDAQ:TSLA) experienced a 4% stock decline amid rumors of potential layoffs affecting up to 20% of its workforce and pre-earnings jitters. The market's reaction reflects concerns over Tesla's first-quarter delivery miss and the recent price cut for its full self-driving software subscription. Technical indicators suggest a strong bearish trend, with the stock trading below its key moving averages and other bearish signals such as a negative MACD and an RSI indicating oversold conditions. With Tesla's Q1 2024 earnings report approaching, investors are advised to exercise caution.
April 15, 2024 | 6:14 pm
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Tesla's stock faces downward pressure due to rumors of significant layoffs and concerns over its upcoming earnings report, alongside bearish technical indicators.
The stock's decline is directly tied to rumors of layoffs potentially affecting up to 20% of Tesla's workforce, compounded by investor unease over an expected underwhelming quarterly report. Technical analysis supports a bearish outlook, with the stock trading below its moving averages and showing negative MACD and RSI indicators. These factors collectively signal a high likelihood of continued short-term downward pressure on Tesla's stock.
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