Despite a strong overall performance this year, Tesla stock has experienced a decline over the past five months as it approaches the end of the year. On Thursday, the stock dropped by 3.2%, but it is showing a small increase of 0.4% in premarket trading on Friday, currently priced at $254.09. While the stock has more than doubled in value this year, it has seen a 13% drop since reaching its highest point of $293.34 on July 18, 2023. Currently, the stock is trading between support levels around $210 and $200, with resistance near $300. MRA analyst John Kolovos suggests that in order for the stock to have a more positive outlook, it needs to surpass the $300 mark.
Fisker Stock Performance
Fisker, an electric vehicle (EV) manufacturer that has been struggling recently, experienced an upward trend in its stock price on Friday morning. The company announced that it successfully produced 10,142 cars in 2023 and has plans to release software updates, starting with Version 1.10 in November, followed by Version 1.11 in December, and Version 2.0 in February 2024. As a result of this news, Fisker stock saw a 10% increase to $1.665 in premarket trading on Friday. However, it is worth noting that the stock has suffered a significant decline of 76% over the past three months and is down 29% for the year.
First Tesla Cybertruck Crash Reported
It was just a matter of time before a new car model like the Tesla Cybertruck would be involved in a crash. The Verge reported the first-ever Cybertruck accident with the headline “First reported Tesla Cybertruck accident results in only ‘minor’ injury.” However, the story reveals that the Cybertruck was hit by a 2009 Toyota Corolla driven by a 17-year-old. Based on personal experience, it’s safe to say that a Corolla driven by a 17-year-old is usually more hazardous than a Tesla.
More on Tesla’s Robot Attack
Yesterday, there was significant discussion surrounding a Tesla robot that injured an engineer at the company’s Austin factory. However, many headlines failed to mention that this incident took place in 2021 and was caused by a “Kuka robot arm (found in all factories),” according to Tesla CEO Elon Musk’s statement on X, formerly known as Twitter.
Adam Clark and Al Root from source observed that the accident rate at Tesla’s Austin plant is slightly lower than the industry average, suggesting that the situation may have been blown out of proportion.
Clark and Root also emphasized that Tesla’s upcoming delivery numbers, set to be released on Jan. 2, will have a more significant impact on the company’s stock.
