TESLA INC. (NASDAQ:TSLA): Cathie Wood steps in as Tesla stock is free falling

 


Tesla dived over 4% and broke its 50-day EMA, as well as a key technical support at $182.33, on Thursday after the U.S. National Highway Traffic Safety Administration (NHTSA) announced that they began investing two incidents involving steering wheels coming off 2023 Model Y EVs, according to CNBC. The stock might have fallen even more without news that Cathie Wood's ARK Investment Management firm just bought another 70k shares of Tesla.



Beware that the stock could continue to fall further after NHTSA now suspects that a Tesla Model S was using its automated driving system when it crashed into a firetruck in California last month, per ABC News. In the near-term, there are supports at $165.80 and a trendline line support at around $161.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!




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