Tesla: Robotaxi Hype Might Not Turn It Around


  • I previously warned about the possibility of Tesla, Inc. stock falling to re-test the $150 support level.
  • Tesla stock fell toward the $140 zone but bottomed soon after. Is the decline over?
  • Shareholders reapproved CEO Elon Musk’s 2018 compensation package, but legal challenges remain.
  • Investors should be cautious about Tesla’s hype surrounding Robotaxi Day, given Tesla’s growth premium.
  • I argue why cracks are building up underneath the surface, suggesting Tesla investors must brace for more pain.

Milken Institute"s Global Conference Held In Beverly Hills

Apu Gomes/Getty Images News

My Tesla Stock Caution Panned Out

I cautioned Tesla, Inc. (NASDAQ:TSLA) investors about adding ahead of TSLA’s Q1 earnings release, as it seemed increasingly likely to re-test its $150 support zone. My

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

A Unique Price Action-based Growth Investing Service

  • We believe price action is a leading indicator. 
  • We called the TSLA top in late 2021.
  • We then picked TSLA’s bottom in December 2022.
  • We updated members that the NASDAQ had long-term bearish price action signals in November 2021.
  • We told members that the S&P 500 likely bottomed in October 2022.
  • Members navigated the turning points of the market confidently in our service.
  • Members tuned out the noise in the financial media and focused on what really matters: Price Action.

Sign up now for a Risk-Free 14-Day free trial!

Leave a Reply

Your email address will not be published. Required fields are marked *