Why Tesla Stock Is Back To The $1,000 Level Today
- Date: 23-Dec-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Why Tesla Stock Is Back To The $1,000 Level Today
Shares of Tesla gained strong upside momentum after Elon Musk said that he had completed the sale of a 10% stake in the company.
In addition to the natural selling pressure that occurs when a material stake is sold, Musk’s share sale had a negative impact on traders’ mood. As a result, Tesla stock declined from the all-time high levels near $1245 to the recent lows near $885.
The pullback was significant, but the stock quickly gained upside momentum and moved back towards the psychologically important $1,000 level.
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