# Tesla Stock Plunges: What's Behind the 6.64% Drop and What's Next for TSLA?
In our latest market analysis podcast, we dive deep into Tesla's significant stock decline, as shares tumbled 6.64% to approximately $401 on exceptionally high trading volume. With over 117 million shares changing hands—well above the typical 100 million daily average—this marks Tesla's worst single-day performance in months, pushing the EV leader into negative territory for 2023.
We explore the multiple factors driving this selloff, including recent executive departures from critical projects like Cybertruck and Model 3, plus growing concerns about weakening demand in Tesla's key European and Chinese markets. Our expert panel breaks down what makes Tesla the only "Magnificent Seven" tech stock currently in the red for the year.
The episode also examines Wall Street's divided sentiment on Tesla's future, with analyst price targets ranging dramatically from $19 to $800, and discusses the critical $400 technical support level that could determine the stock's next major move. Whether you're a Tesla investor or market watcher, this comprehensive analysis provides essential insights into what's driving TSLA's volatility and what signals to watch in the coming weeks.
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