Not solely did Twitter start to lose main advertisers as Musk allowed sure neo-Nazi customers again onto the location (”Do I would like my commercial to seem subsequent to those Adolf Hitler-love pictures?”), however the worth of his automobile firm dropped to nearly $100 by early January, 2023 earlier than the almost-recovery.
What’s clear, although, from a research of the value charts over totally different time frames is that Tesla has been in a gradual downtrend for a very long time.
Tesla worth charts.
The Tesla every day worth chart is right here:
The pink dotted line connecting the September, 2022 excessive with the late March, 2023 excessive reveals the path of worth over that interval: down. Though it’s peeked above the 50-day shifting common (the blue line), Tesla stays beneath the 200-day shifting common (the pink line) which stays in down trending mode.
The “yr up to now” transfer is optimistic however till the value could make again above the downtrend line and that 200-day line, it could’t be referred to as “bullish” from the attitude of worth chart evaluation.
Right here’s the weekly worth chart:
The pink dotted line connects the late October/early November, 2021 highs of above $400 with the late March/early April excessive of $380. The 50-day shifting common is trending downward and the inventory has been buying and selling beneath its 200-day shifting common for a number of weeks now.
Check out the distinction in quantity (alongside the decrease a part of the value chart) between early 2020 and the current.
The month-to-month worth chart seems to be like this:
The upward transfer off of the March/April 2020 pandemic scare lows — when rates of interest have been lowered considerably — is spectacular. Tesla caught the eye of the general public and have become referred to as one of many sizzling shares of the period.
Is it over? The worth has dropped from above $400 to $180 after sliding to as little as $100 only a few months in the past. That the George Soros fund and some different giant establishments unloaded Tesla throughout 2023’s first quarter is notable.
For a unique perspective, right here’s the purpose and determine chart exhibiting the large swings of up and down:
Plenty of components are at work right here, however it’s most likely not all that useful for Musk to be making CNBC appearances the place he remarks that “I’ll say what I would like and if the consequence of that’s dropping cash so be it.” It’s possible that the majority Tesla buyers would discover that worrying because it’s their cash.