TSLA is trading at $407.85 (-3.34%) as of 11:17 AM EST, down from yesterday's close of $421.96 amid a broader market rotation out of technology stocks.
- The NASDAQ Composite fell 1.21% following disappointing ADP employment data, which showed only 22,000 jobs added versus expectations of 45,000–48,000.
- Selling pressure is being driven by hawkish Federal Reserve expectations and a lack of company-specific catalysts for Tesla today.