Tesla Inc TSLA shares are trading lower by 1.80% to $192.33Monday morning. The stock may be trading lower amidweakness and profit taking in tech stocks followinglast week's rally. Major indiciesgained sharply last weekfollowingkey U.S. economic data, which showed a slowdown in inflation and a rise in jobless claims. This data has alleviated some concerns of high inflation and a tight labor market.
Additionally, Tesla on Sundaysaid it will support a probe carried out by Chinese authorities into acrashthat killed two people in the country's southern Guangdong province on Nov. 5.
The crash involved aTesla Model Yand killed a motorcyclist and a high school girl,reportedReuters, citing local Chinese media…Read More
Tesla shares also experienced volatility last week after CEO Elon Musk disclosed the sale of nearly $4 billion in stock following his recent acquisition of Twitter.
What Happened With CPI Data Last Week?
The headline CPI rose 7.7% in October, downfrom 8.2% in September, according todatafrom the U.S. Bureau of Labor Statistics.
The OctoberCPI reading came in below average economist estimates of 8%.
Thursday's highly anticipated CPI inflation reading comes a weekafter the Federal Reserve raised its benchmark rateby 0.75% for the fourthstraight timein a continued fight against historically highinflation…Read More
According to data fromBenzinga Pro, TSLAhas a 52-week high of $402.67 and a 52-week low of $177.12.