Tesla shares fell at a turning point for investors, Bloomberg noted. Their prices have approached a “comfortable risk/reward entry point.” The day before, the company reported the first decline in quarterly sales of electric vehicles since 2020.
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Tesla’s stock price is approaching a “comfortable risk/reward entry level.” This is a turning point for investors in the dynamics of Tesla quotes, Bloomberg writes.
Currently, Tesla shares are worth $167.8, having dropped in price by 33% since the beginning of the year. At the end of the first quarter, the electric vehicle maker’s stock was the worst performer on the Nasdaq 100 index and one of the worst performers on the S&P 500 index.
Analysts consider Tesla’s share price of $150 to be a key level, that is, one at which the stock can receive market support.
On April 2, Tesla reported the first drop in quarterly electric vehicle sales since 2020; The figure was much lower than analysts’ expectations. Tesla shares fell more than 5% on the Nasdaq following the report. The company’s market capitalization has declined, removing it from the top 10 most valuable public companies in the United States.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
