The recent lackluster performance of Tesla (NASDAQ: TSLA) stock has been supported by its recent quarterly report, which showcased a decrease in revenue. A question has arisen among investors: Does Elon Musk believe in this company enough?
Musk recently argued that he needed a larger share in the company to make Tesla a leader in the AI and EV industry, as the current division of influence doesn’t motivate him enough towards that goal, as he wrote in his X post on January 16.
This post marks only another in the series of posts where Musk voiced his opinion on Tesla stock, the most notable being whether he should sell 10% of his stock in this company.
Despite the votes being in favor of ‘no’ after all, this poll might have been a sign of things to come.
Losses since the X poll
Whether the initial poll influenced the TSLA stock price is hard to deduce, but an interesting trend emerged.
The date of the post and the current value of this stock show a loss of 55.02%, bringing the stock price from $407 to $183 at the time of writing, as highlighted by the performance tracker TrendSpider’s post on January 29.
Tesla stock price analysis
At the time of press, TSLA stock was valued at $185.30 after a gain of 1.12% in the pre-market trading. This stock lost -13.64% of its value in the past five trading sessions.
Technical indicators for TSLA spell out different ratings. Overall, they point towards a ‘sell’ at 16, while moving averages indicate a ‘strong sell’ at 14. Oscillators are tilting towards ‘buy’ at 5.
Whether the poll from Musk started a loss trend for his EV company is hard to tell. But charts showcase that the stock has been unable to revisit its valuation before the tweet for over two years.
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Source: https://finbold.com/heres-how-much-tesla-stock-lost-after-elon-musk-proposed-to-sell/