Those open contracts at the $100 strike price indicate a large number of options investors are protecting against further downside for the stock before the June expiration. A move down to that level implied 49% downside from Thursday's close of $196.
"I don't know if Tesla is going to break down $95 from here in the next 29 days, just something to keep an eye on here," he said. "In terms of other technical levels, option market levels aside, you have a significant low here right around the $142. That I think is reasonable if this downside momentum continues."
That downside could accelerate if Tesla breaks through $180, the old lows Gordon identifies from 2016 and 2017. It needs to fall another 8% before reaching $180, and another 21% to take it to $142. It would mark a $247 per-share loss from its record set back in September 2017. "Now keep in mind, we have a stock market that is also entangled in tariff wars. The S&P is under pressure so you're getting selling pressure from that side as well," said Gordon.
Tesla is the worst performer on the Nasdaq 100 this year, with a 41% loss. It has shed $23 billion in market cap.
TradingNation A much better analysis.
TradingNation Mystery traders...
TradingNation Wowza
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla drops for sixth straight session, down 20% since share offerTesla shares extended their recent sell-off on Wednesday after Citi cut its pric... xe tải thùng 2 tấn: elonmusk Those who didn't believe in the Co. And tried to stop it. And realised they missed the boat. Control the system enough to bring the boat back to dock so they can get cheap tickets.
Source: Reuters - 🏆 2. / 97 Read more »
Apple bid to buy Tesla in 2013 for $240 a share, analyst saysIn 2013, Apple put in a bid to buy Tesla for $240 a share, Roth Capital Partners Analyst Craig Irwin says. 'Apple bid for Tesla. I don’t know if it got to a formal paperwork stage, but I know from multiple different sources that this was very credible.” Soon they will be able to pick it up for $10 by the look of it. It may not be where it is now if Apple took control ... That's just BS, market manipulation ... they are trying to pump up the share price ... Rumors from an analyst working for an investment bank with conflicts of interest ... you can guess by yourselves ...
Source: CNBC - 🏆 12. / 72 Read more »
Tesla's stock dives toward 2 1/2-year low after NTSB crash reportShares of Tesla Inc. took a 2.8% dive in premarket trade Friday, after the National Transportation Safety Board (NTSB) determined that a Tesla vehicle... Great time to buy in!!!!
Source: MarketWatch - 🏆 3. / 97 Read more »
Tesla Autopilot Repeats Fatal Crash; Do They Learn From Past Mistakes?The report on a new Tesla Autopilot falality reveals the system repeated an error from the past, not detecting the broadside of a transport truck. This begs the question of how well Tesla learns from past mistakes even with their large resources. Don't we all. Thought it was a hardtop convertible at first glance. Smh
Source: Forbes - 🏆 394. / 53 Read more »
Elon Musk rewrites fast-moving Tesla cash storyThe electric-car maker’s CEO is mandating “hardcore” cost controls, admitting Tesla could burn $2.4 bln of new capital in 10 months. That puts growth plans in question. It also seems to contradict earlier rosier statements. Investors and watchdogs should have a few questions.
Source: Breakingviews - 🏆 470. / 51 Read more »
Tesla stock at fresh two-year low after ‘hardcore’ cost-cutting planShares of Tesla Inc. touched another two-year low Friday after a leaked memo spoke of the Silicon Valley car maker potentially running out of cash in just...
Source: MarketWatch - 🏆 3. / 97 Read more »
Read the email Elon Musk sent to Tesla employees calling for 'hardcore' control of expensesThe memo says that $2 billion in fresh funding would only cover 10 months of business at the company's first quarter burn rate. Elon dropping the hammer. 🤔 10 months my ass This is crazy elonmusk and you know it. You have to confront more strategic choices, or else the Tesla Board or administrators will (& should) sell you out!
Source: CNBC - 🏆 12. / 72 Read more »
Tesla shares plunge after report says its Autopilot system was engaged during a fatal crashTesla shares fell to their lowest since January 2017, after the NTSB said the company's Autopilot system was engaged during a fatal crash. k We saw this coming from 300 miles away. How about you post the ratio fatal crashes caused by human error vs. autopilot...you’d rather create fear than recognize the accomplishments.
Source: CNBC - 🏆 12. / 72 Read more »
Tesla Model 3 Autopilot was active before deadly collision, federal investigators sayThe collision was at least the third fatal crash in the U.S. involving Tesla's driver-assistance system. But no hands on wheel. Would you drive a Tesla Model 3 now? We already knew this the week it happened
Source: washingtonpost - 🏆 95. / 72 Read more »
Tesla shares tumble on Musk’s call for ‘hardcore’ review and Autopilot crash concernsTesla Inc. shares sank after Elon Musk called for a review of all the electric-car maker’s expenses. holy smokes Elon, you mean you have to make more than you spend? Where is the solar car? Solar
Source: latimes - 🏆 11. / 82 Read more »
Tesla stock drops after a report that Autopilot was engaged during a deadly crash in FloridaThe National Transportation Safety Board said Tesla's Autopilot system was active when a driver was killed in during a 2018 crash in Florida. Amazing 👏👏 It's the Tesla jinx. He was a brilliant inventor and engineer but he sucked at business. Just like I said months ago.... Tesla ALL Driverless Cars 1. Can be hacked 2. Are full of flaws 3. Batteries/charging systems are fair but not worth the cost.
Source: USATODAY - 🏆 100. / 63 Read more »