As seen on the chart, $TSLA has reached oversold on the weekly timeframe for its third time in history. Previous two times were a longer term bottom for the stock price. It's a possibility that this will occur again, the P/E ratio has dropped considerably from it's overextended levels, and FUD for Tesla is at a peak.
However it must be noted that Elon Musk himself has said multiple times that there's a recession coming, for which he has already prepared billions of $ in cash reserves seen by his recent stock sales.
However it must be noted that Elon Musk himself has said multiple times that there's a recession coming, for which he has already prepared billions of $ in cash reserves seen by his recent stock sales.