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.

To contact the reporter on this story: Nancy Moran in New York at nmoran@bloomberg.net

To contact the editors responsible for this story: Sophie Caronello at scaronello@bloomberg.net, Brandon Kochkodin

©2019 Bloomberg L.P.