U.S. equities were down at midday, while the yield on the 10-year Treasury jumped, as the market reacted to Moody's downgrading the U.S. debt rating. The Dow Jones Industrial Average, S&P 500, and Nasdaq all slid.
The three major tech stocks in this analysis all look as if they are going to struggle a bit, as they are all lower in premarket trading on Monday. At this point, there should be buyers under current levels.
Shares of Tesla Inc NASDAQ: TSLA closed just under $350 last week, capping off a blistering rally that has seen the stock climb 60% from its April lows. While it still has ground to cover before revisiting the highs near $500 from last December, momentum is clearly back.
After an incredible two-year run on the stock market, big tech hasn't fared quite so well in 2025. Among the biggest laggards in artificial intelligence (AI) stocks is Tesla (TSLA 1.93%), whose shares have declined 15% year to date (as of May 15).
Japan is considering a plan to offer subsidies for building charging stations for Tesla electric vehicles in tariff talks with the United States, broadcaster TBS reported on Saturday.
Tesla plans to debut its robotaxi service in Austin next month. The company told a Morgan Stanley analyst that the launch is still a "go.
Tesla blocked shareholders who own less than 3% of its shares from suing its directors or officers on behalf of the electric vehicle maker for breach of duties, according to a regulatory filing on Friday.
Tesla has changed its corporate bylaws in order to limit shareholders' ability to sue for a breach of fiduciary duties, a filing revealed on Friday. Elon Musk's automaker now requires a shareholder to own 3% of the company's stock before bringing what's called a "derivative" action.
Tesla and Nvidia led a tech rally this week. Easing trade tensions between the U.S. and China and the axing of the Biden administration's chip export rule helped the sector.
Tesla is adding long-time Chipotle executive Jack Hartung to its board of directors, effective June 1. Hartung joined the fast-casual burrito business in 2002, and rose to become CFO and later president and chief strategy officer.
CEO Elon Musk said he will dedicate more time to the company, and reduce his time with the Department of Government Efficiency (DOGE).
Veteran Chipotle executive Jack Hartung was appointed a member of Tesla's board of directors Thursday, according to a Tesla filing with the SEC. Hartung's addition to the board comes as Tesla quietly works to finish its 1950s-style diner and charging station in Los Angeles.