Tesla news: 46,000 Cybertrucks recalled for safety issue, Tesla trade ins record high

Forex Short News

There were a few items of interest on Tesla on Thursday. With the share price down more 40% from its high and locked into bear market territory, interest is very high in the firm.

If you are a contrarian type you may very well view the intensity of bad news coverage on TSLA as a buying opportunity. Or not.

Anyway, the news:

  • 46,000 Cybertrucks were recalled over a safety issue (detaching exterior panels while driving) by the US National Highway Traffic Safety Administration (more)
  • Edmunds (a US online resource for automotive inventory and information) reports that Tesla owners have been trading in their vehicles at record levels since CEO Musk joined Trump’s White House.
    • March represented “the highest ever share” Edmunds had seen for Tesla trade-ins toward new or used cars from brands sold at auto dealerships (more)
  • JP Morgan says its seen the highest $ inflows into TSLA shares from retail investors in more than a decade:
    • retail investors have bought Tesla for the last 12 consecutive sessions
    • US$7.3 billion in total
    • highest magnitude of all past buying streaks going back more than a decade

I posted earlier on Tesla:

This article was written by Eamonn Sheridan at www.forexlive.com.