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Tesla Inc experienced a sharp downturn over the past five days, falling 24.52 USD, or 6.35%, to close at 361.62 USD on February 7 at 7:59 PM GMT-5. The stock struggled to maintain upward momentum throughout the week due to reasons including decline in Tesla’s sales in China and the company’s decision to sell of $43M in stocks.
During the latest trading session, Tesla opened at 370.19 USD. However, the stock faced volatility as it reached an intraday high of 380.55 USD before retreating to a low of 360.34 USD. The final close at 361.62 USD reflected bearish sentiment.
After-hours trading extended the losses further, with Tesla slipping 4.26 USD, or 1.18%, to 357.36 USD. Tesla’s market capitalization stood at 1.13LCr, reinforcing its position as one of the most valuable automakers despite recent stock weakness. The stock faced resistance near 380.55 USD, where selling pressure emerged, while support around a low of 360.34 USD suggests a level where buyers attempted to step in.
Disclaimer: This article is for informational purposes only and does not constitute any financial advice.