TESLA INC. (NASDAQ:TSLA): TSLA's Problem Isn't Elon Musk's "Master Plan 3"

 


Tesla stock tumbled 5.88% on Thursday after Tesla presented Elon Musk's "Master Plan 3" at its March 1 Investor Day. The stock is now resting on the trendline support at around $186. The Master Plan 3 presentation was fine but some investors may have wanted to hear something more, including the next-generation, low-cost vehicle platform, per Bernstein's Toni Sacconaghi.

Whether the stock can bounce off from here could depend very much on their February China deliveries. Reuters reported that Tesla's China daily sales Y-T-D is slower, compared to 4Q22, and suggested that their early price-cut boost might wane. Last year, the company delivered 56,515 EVs from its Giga Shanghai.

The next supports for the stock are its 50-day EMA at ~ $180 and the trendline support at ~ $160.

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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