Tesla Peeks Above Its 200-Day Moving Average for the First Time Since September 2022 as the GraniteShares 1x Short TSLA Daily ETF Closes Shop

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Tesla shares are now on the cusp of transitioning into the bull market territory, as per a time-tested technical metric. Concurrently, a Tesla-focused ETF for the stock’s bears is about to cease its operations, leading many to conclude that brighter days lie just ahead.

$TSLA first peek above the 200-day since September

⁦@CNBC pic.twitter.com/yLRPyfpW0n

— Carl Quintanilla (@carlquintanilla) May 30, 2023

Tesla shares have now peeked above the 200-day moving average for the first time since September 2022.

The chart above highlights the 91 percent rally from the lows of the year that has culminated in today’s milestone. Of course, the stock still needs to close above its 200-day moving average – currently located at the price point of $199.79 – today for a definitive breach to occur.

Concurrently, GraniteShares 1x Short TSLA Daily ETF has announced that it will cease its operations on the 16^th of June, 2023. The ETF had launched on the 09^th of August, 2022.

Meanwhile, the news flow around Tesla remains largely positive, peppered with the occasional reality-check-inducing development. Recently, the Model Y became the world’s bestselling car, outpacing the Toyota Corolla. This is the first time that an electric car has been able to garner such a distinction. Do note that the Model Y starts retailing at around $47,490, while the Toyota Corolla has a base price of $21,550.

NEWS: @elonmusk told Chinese foreign minister Qin Gang on Tuesday that he was willing to expand business in China, the Chinese foreign ministry said.

Qin told Elon China was committed to improving the business environment for investors, including @Tesla.https://t.co/eA1X0t2BNH

— Sawyer Merritt (@SawyerMerritt) May 30, 2023

Elon Musk is touring China today in what is being dubbed as a trip that could substantially ease the way for Tesla in the world’s second-largest economy.

🚨 $TSLA unintended data dump 🚨 implications:

-Looks like @NHTSAgov & $TSLA resemble BaFin &
and Wirecard now
-Even Cybertruck specs are disclosed
-Musk's social security too 😂
-Every $TSLA owner's bank details
-Employees' phone #'s & addresses

That's the good news..

1/2 pic.twitter.com/C47KgSM2W8

— Motorhead (@BradMunchen) May 26, 2023

Last week, however, Tesla investors got a hefty dose of reality when the German business journal, Handelsblatt, published a hard-hitting report that details thousands of complaints that the EV giant has received so far in relation to its bespoke Advanced Driver-Assistance System (ADAS), the Autopilot. Handelsblatt reportedly got hold of a 100-GB data trove from disgruntled former Tesla employees. The so-called Tesla Files have revealed the following till date:

• Between 2015 and March 2022, Tesla received around 3,000 complaints related to its Autopilot ADAS.
• There have been 2,400 complaints related to self-acceleration and another 1,500 regarding braking malfunctions.
• Tesla employees were reportedly told to leave “no paper trail” when communicating with customers regarding their complaints.
• Elon Musk’s personal information, including his social security number, has also been leaked.

While Tesla has threatened to sue the whistleblowers responsible for leaking the so-called Tesla Files to Handelsblatt, the company now faces the very real prospect of an inquiry for allegedly violating the EU’s strict GDPR regulations related to data privacy by failing to adequately safeguard its internal data.

Back in April, reports emerged that Tesla employees inappropriately shared sensitive images of customers in internal chat rooms. Against this backdrop, the Handelsblatt expose’ only serves to highlight the supposedly lax privacy safeguards at Tesla.

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