EXCLUSIVE: Tesla Bulls Are Bruised Not Beaten, Says Direxion's Egilinsky
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Tesla's stock has dropped nearly 38.5% this year due to increasing competition, declining sales, and soft consumer demand, according to Direxion's Ed Egilinsky. Despite the challenges, some traders believe the worst may be over for Tesla in the short term. Currently, the stock is showing signs of overselling, with technical indicators remaining bearish. Additionally, CEO Elon Musk's political connections may add volatility as the election season approaches. Some investors see potential for a short-term rebound despite the ongoing struggles.
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