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The stock of Elon Musk is sitting on the precipice.
Tesla's profits came out last night and went down a lot (about 10%). Elon Musk – true to himself – said the company would return to profitability in the 3rd quarter, blah, blah, blah. The stock was actually higher today, but has since inverted and is trading at $ 11.54. Lowest was $ 246.07
This low today is between $ 248.59 and $ 247.77 between 2018 and 2018. Looking at the chart, Tesla tends to trade levels and sell or buy. This is one of the buying levels that should stall the decline, but given the news about the results and the lack of credibility of Elon Musk, one wonders if the word will be broken.
What we know with the Tesla stock is maybe a great car, but expect a bumpy ride.
ForexLive
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