Tesla's stock is experiencing downward pressure in pre-market trading on December 18, 2024, with no specific news events clearly driving the movement. However, there are several factors that could be influencing investor sentiment. Notably, the departure of Song Gang, the head of Tesla's Shanghai factory, is set to occur this week. Song played a crucial role in the construction and operation of Tesla's first factory outside the U.S., and his exit could raise concerns about the continuity of operations and strategic direction in one of Tesla's key markets.
Additionally, Tesla's implied volatility levels have risen significantly, reaching a high of 90.34%. This increase in volatility, coupled with a substantial options trading volume, suggests heightened market uncertainty and potential bearish sentiment among investors. A large player has reportedly placed a significant bearish bet by selling call options with a strike price of $480, which may also be contributing to the stock's current downward trend.
Tesla's stock is currently priced at $467.68, reflecting a 2.54% decrease from the previous close of $479.86.