Tesla Shares Slip In Pre-Market A Day After Massive 22% Rally: What's Going On?
Portfolio Pulse from Pooja Rajkumari
Tesla's stock experienced a 2% decline in pre-market trading following a massive 22% rally, as investors locked in profits. The rally was driven by increased options activity and Tesla's announcement of its highest quarterly profit since mid-2023.
October 25, 2024 | 9:42 am
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Tesla's stock fell 2% in pre-market trading after a 22% rally, as investors took profits. The rally was driven by options activity and strong quarterly earnings.
The 2% decline in Tesla's stock price is a result of profit-taking by investors after a significant 22% rally. The rally was driven by increased options activity and Tesla's strong quarterly earnings, which added $150 billion to its market value. The decline is a typical market reaction following such a substantial gain.
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IMPORTANCE 90
RELEVANCE 100