Tesla's stock faced a challenging trading session on December 20, 2024, as investors reacted to a mix of market dynamics and company-specific news. The Federal Reserve's announcement of fewer anticipated rate cuts has contributed to a broader market pullback, particularly affecting high-growth stocks like Tesla. Additionally, Tesla's shares have been under pressure following a significant post-election rally, with investors now taking profits. The stock's volatility was further exacerbated by a recent 8% drop on Wednesday, marking its worst day since before the U.S. presidential election. Despite these challenges, Tesla's long-term prospects remain a topic of debate among analysts, with some expressing concerns over its valuation and competitive pressures, while others remain optimistic about its growth potential in autonomous driving and energy storage.
The Graniteshares 2x Long TSLA Daily ETF (TSLR) closed at $47.67, marking a 6.99% decline from the previous day. However, it saw a slight recovery after market hours, rising by 1.95% to $48.60.