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Tesla stock drops toward its 3rd bear market this year, by some measures

·1 min read
Tesla stock drops toward its 3rd bear market this year, by some measures
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  • TSLA
  • ^GSPC

Shares of Tesla Inc. tanked 3.8% toward a one-month low, which some technicians would say puts them on track to enter their third bear market this year. Many on Wall Street define a bear market as a decline of at least 20% from a recent bull market closing peak, and some say that bear market would end after a 20% rally off the subsequent low. Tesla's stock is currently trading 20.7% below its Nov. 4 record close of $1,229.91, and a bear market would become official to some technicians with a clo