Tesla (TSLA) Stock Price and Forecast: Why Will It Drop?

Tesla stock gained 1.3 percent on the day, continuing its upward trend.
Since October, TSLA shares have risen by more than 50%.

The electric vehicle manufacturer has announced several Model 3 pricing hikes.

Tesla has yet to resign from its lofty position, but with a slew of options set to expire today, it can’t be long. Congratulations to those who have completed this tremendous rise, but please have a trailing stop in place to bank some profits in the case of a downturn. The key driver of the increase in Tesla shares has been options, namely call options, with massive purchasing of the $1,000 and $1,200 strike options expiring today.The growing attention on climate change and sustainable energy has also benefited the stocks. The recent G20 climate summit in Rome and the COP26 summit in Glasgow have heightened this. Tesla is clearly the leader in the renewable energy and electric car sectors, therefore it benefited rightfully, but has it gone too fast and furious? In this author’s perspective, 50 percent or more in just over a month seems excessive, and the Relative Strength Index (RSI) seems to concur.

Tesla (TSLA) stock news

Earlier in the week, Elon Musk tweeted that the Hertz contract had no impact on Tesla’s profitability and…