Double Digit Loss For TSLA This Week π¨
Tesla Inc. stock's weekly losses are poised to reach 11%, its worst weekly performance since the last week of 2022, when it dropped 18%.
The stock has declined 37% in the last 12 months, compared with losses of around 8% for the S&P 500 index.
Good News
Tesla has won a license to operate its electric vehicle Supercharger Network in Turkey from the countryβs Energy Market Regulatory Authority (EMRA).
Tesla started expanding in Turkey late last year after plans to launch its vehicles within the country were revealed to be in motion in early 2022. Tesla attempted to enter the market in 2018, but the decision was abandoned due to political reasons.
Numerous job postings indicated Tesla was starting to consider a serious expansion into the market, and some Supercharger station builds were installed last year, but none were officially activated or operational.
Waited 10 mins to short TSLA
Bad News
Tesla is facing βcriminalβ allegations regarding Gigafactory Berlin as environmentalists accuse the automaker of βsuspected water pollution and a possible environmental crime.β
For years now, Tesla has been in battle with environmentalists in Germany who have tried to stop or slow down the construction of and production at Gigafactory Berlin.
The first charge has to do with Tesla driving foundation piles that the association believes could be reaching and/or affecting groundwater. Groundwater contamination and water usage have been one of the main battlegrounds for environmentalists trying to stop the Gigafactory Berlin project.
The second charge against Tesla is they started construction of the βTesla-SΓΌdβ work shuttle station project at the Gigafactory Berlin site before it officially received the construction permit.
21% profit within 12 mins
Ugly News
Tesla stock rises on Friday, breaking four-day losing streak. TSLA weekly losses are poised to reach 11%, its worst weekly performance since the last week of 2022, when it dropped 18%.
The stock rose on Friday though, breaking a four-session losing streak. The stock slide came after Chief Executive Elon Musk was back in the news - for the wrong reasons.
Musk's criticism of a laid-off Twitter employee went viral earlier in the week, and he later apologized to the employee, a technology entrepreneur and philanthropist in Iceland.
β οΈ Trading Tips: Setting up for 169 and 160 if price do not return to 180 early next week. CPI report next Tuesday will be crucial for the entire market.
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