TESLA INC. (NASDAQ:TSLA): Investors are fleeing on concerns about company strategies


Tesla stock pulled back 1.41% on Monday to close at $174.95, just below its 50-day EMA, following news that Tesla's CEO would take AI and robotics outside the company if he doesn't get 25% voting power. Shareholders will have to make their decision on the subject matter at Tesla's Annual Shareholder Meeting on June 13. Some of them may have already decided today and sold their shares.

In March 2023, Elon Musk founded his AI company xAI Corp. in San Francisco, CA. No one knows how xAI Corp. and Tesla's AI will be connected if Elon gets his wish.

The downtrend of Tesla stock remains intact. There is plenty of noise but TSLA could trade sideways under its 50-day EMA (green line) until June 13. Stay tuned and tighten your seat belts!

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


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