Tesla Nears Death Cross Following SEC’s Contempt Claim

Tesla Nears Death Cross Following SEC’s Contempt Claim

(Bloomberg) -- Tesla Inc. is edging closer to recording its second death cross since September, a bearish signal whereby a stock’s 50-day moving average crosses below the 200-day line. The electric-car maker fell as much as 3.4 percent on Tuesday after the U.S. Securities and Exchange Commission asked a judge to hold Chief Executive Officer Elon Musk in contempt for violating a settlement that required him to get Tesla’s approval before communicating material information to investors.

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