Tesla (TSLA) failed to break the key resistance at $945 on Tuesday despite a huge rally in some meme stocks.
Tesla’s stock looked set to push higher as it opened and tested $945, but the stock retraced to close at $919.69, which was in the red for the session.
Tesla CEO, Elon Musk has been busy overnight tweeting about buying Manchester United (MANU), which sent the stock higher in after-hours trading. Tesla, meanwhile, was lower following what has been a strong move this past month.
Tesla’s stock has rallied over 50% from the June lows, so really it is no surprise that it is now struggling for momentum. The equity rally across the main indices has also slowed as investors reassess the thought of further Fed rate hikes.
