Tuesday, 04 February 2020 11:01

Tesla is Starting to Look Dangerous

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(Los Angeles)

Tesla’s stock has been rising almost as fast as Elon Musk’s rocket ship ambitions. Not only is the stock up almost 100% this year already (!), but shares rose by a shocking 20% on Monday alone. Why? The lack of a concrete reason is what makes the move alarming. There was some relatively minor news from a supplier about battery prices, but otherwise nothing. That is making many traders expect that a short squeeze has hold of the market, making gains artificial and moving the stock dangerously away from its moving averages.


FINSUM: Tesla shares seem to be showing a high degree of irrational exuberance right now. Any bad news could cause a huge drop.

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