Tesla stock on track to close below 200-day moving average


Tesla Inc.

stock on Thursday is on pace to close below its 200-day moving average for the first time in more than a year, and on track for its worst week since the week of March 20, 2020. The stock is down 3.41%, which would be the lowest close in nine weeks. Chief Executive Elon Musk tweeted late Wednesday that the electric-car makerwas halting car-buying using bitcoin on environmental concerns, sending Tesla shares and the cryptocurrency

lower. When Tesla dipped below the 200-day average last year, it did so amid the March 2020 pandemic selloff, and the stock bounced more than 18% the next session. Shares of Tesla have gained 255% in the past 12 months, compared with an advance of 45% for the S&P 500 index.

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