Tesla Shares Plummet 7.64%, Biggest Drop Since January

Tesla shares experienced a significant downturn, with the stock falling as much as 7.64% in a single day, marking its biggest drop since January. The decline began in premarket trading, with an initial drop of over 1%, and worsened throughout the day, culminating in a closing decrease of 6.69%. This downward trend is part of a longer-term bearish pattern for Tesla, with the stock failing to break out above $200, breaking down in moving averages, and forming a bear flag. The stock broke below several key levels, including $190, with specific points at 186, 182, 180, and 177. Analysts have noted Tesla's struggle to maintain momentum, with the stock getting rejected at the $205 level and now trading below $190. This performance aligns with predictions made in January about Tesla's stock trajectory, including a failed breakout above $200 and a move towards the $170s.