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2021-12-17

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Elon Musk, Cathie Wood Continue to Sell Tesla's Stock, But Can It Pull Off A Reversal?

On Thursday morning, Tesla, Inc was trending on r/WallStreetBets after the EV company won approval t

Elon Musk, Cathie Wood Continue to Sell Tesla's Stock, But Can It Pull Off A Reversal?

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Tesla also released a software update that advises drivers when their tires should be rotated by measuring the remaining tread.\n\nThe stock has been pressured recently by both a pullback in the general markets and CEO Elon Musk continuing to sell shares. Cathie Wood-led Ark Invest has been offloading its position in Tesla as well, selling 393,556 shares so far this month.\n\nOn Wednesday, Tesla came within $18 of completely filling a gap left behind on Oct. 25 between the $910 and $944.20 range but a bullish reaction to meeting minutes released by the Federal Reserve caused a reversal to the upside. What remains of the gap may not be filled for some time now, because the stock looks set for a larger move north even if only to print a higher low.\n\nThe Tesla Chart: Tesla has been trading in a downtrend since Nov. 22, making a consistent series of lower highs and lower lows on the daily chart. 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Elon Musk, Cathie Wood Continue to Sell Tesla's Stock, But Can It Pull Off A Reversal?

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