Tesla (TSLA) skidded 3% Tuesday, giving up support at the 50-day line.
In recent weeks, Tesla surged on news reports that Beijing has given preliminary approval for the electric-vehicle giant to launch its Full Self-Driving in China.
On April 23, Tesla announced worse-than-expected earnings and revenue for the first quarter, with the electric-vehicle giant reporting its lowest quarterly per-share earnings since 2021. But Tesla stock soared as it signaled “more affordable” new models are still coming.
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