Tesla stock falls 2.2% as robotaxi delay clouds outlook
The delay adds to broader concerns about Tesla’s autonomous vehicle roadmap
As of June 13, Tesla stock is trading at $319.11, down 2.2% on the day.
The recent downturn reflects a broader weakening trend in the stock’s technical structure. TSLA has dropped below both its 50-day and 200-day moving averages.
Highlights
- Tesla shares fell 2.2% to $319.11, breaking below key moving averages and approaching critical support at $289.
- A delay in the robotaxi launch and a political clash between Elon Musk and Donald Trump have added to investor concerns.
- Short-term outlook remains bearish unless positive catalysts emerge from the upcoming June 22 event.
The Relative Strength Index (RSI) is hovering around the 35 level, indicating that the stock is approaching oversold territory but has not yet reached the threshold for a technical rebound. Volume trends have also shown an uptick during the latest down sessions, suggesting that the sell-off has been accompanied by increased investor pessimism.
Short-term support is seen at $289, a level tested during earlier dips in Q2 2025. A failure to hold above $289 could expose the stock to further losses, with $265 as the next likely downside target. Should the decline deepen, long-term support near $215 could come into play. These levels mark critical inflection points that traders and investors will be monitoring closely.
TSLA stock price dynamics (April 2025 - June 2025). Source: TradingView
On the upside, any recovery will need to overcome the $340 resistance formed by the 50-day MA, and a break above $365 would suggest a reversal of the bearish momentum. However, in the absence of strong catalysts or favorable developments, a breakout above these levels seems unlikely in the near term.
Market context: robotaxi launch delays and political discord
Tesla’s current market performance is shaped by a confluence of corporate events and political developments. Most notably, the company postponed the anticipated launch of its robotaxi service in Austin, Texas. Originally scheduled for June 12, the debut has been rescheduled to June 22. While Tesla attributed the delay to logistical adjustments, investors interpreted it as a sign of potential issues with the technology or regulatory clearance.
This delay adds to broader concerns about Tesla’s autonomous vehicle roadmap. Investor confidence in the company’s ability to deliver fully self-driving capabilities has been shaken, especially as competitors make strides in the same space. The robotaxi initiative was expected to serve as a growth catalyst in 2025, and delays only amplify uncertainties.
Adding to the volatility is a high-profile spat between CEO Elon Musk and President Donald Trump. Following Musk’s criticism of a proposed tax and spending bill, Trump responded with threats of regulatory scrutiny and potential removal of subsidies and incentives that benefit Tesla. The political fallout has sparked concerns over the company’s relationship with U.S. lawmakers.
Limited upside with downside risks in play
In the near term, Tesla's price action is expected to remain choppy with a bearish bias. If the stock breaches the $289 support level, the next leg down could see a move toward $265. A deeper correction could test the $215 zone, a level not seen since mid-2023. These downside levels are becoming increasingly relevant as negative headlines accumulate.
To the upside, much will depend on how the June 22 robotaxi event unfolds. A successful demonstration, coupled with credible timelines for deployment, could revive investor optimism and drive a rally toward $340. Further confirmation above $365 would be required to turn the technical outlook bullish.
Tesla is facing declining EV sales internationally, particularly in China where rivals like BYD and NIO are gaining ground. To counter weakening demand, the company has revived its referral rewards program, hinting at potential structural issues in its growth strategy.
