Tesla Stock Falls After Report of Shanghai Output Cut

TSLA is down over 47% year-to-date

Deputy Editor
Dec 5, 2022 at 10:39 AM
facebook X logo linkedin

The shares of Tesla Inc (NASDAQ:TSLA) are down 5.4% at $184.37 at last glance, after yet another negative news headline for the electric vehicle (EV) giant. Bloomberg today reported that Tesla will cut its December output in Shanghai due to slow demand, and while it's still unclear whether or not this claim is true, China accounts for a large amount of the company's global profits, and this alongside uncertainty regarding the China's Covid-19 restrictions has the stock moving lower. 

On the charts, Tesla stock has been seeing pressure at the $200 level for the past month. Plus, its descending 30-day moving average has kept a lid on attempted rallies since September. Year-to-date, the equity is down 47.7%. 

Options traders have favored calls over the past two weeks, with 1.53 calls bought for every put at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio ranks higher than 95% of readings from the past year, showing strong bullish sentiment. 




Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI