Tesla's Cybertruck Resale Values Are Crashing As Their Stock Tumbles 10% Year To Date

• Recently, the price of used Tesla Cybertrucks dropped from an average of $185,000 in early April to about $117,000 by September 2024.
• Tesla's stock has shown a 10% loss year-to-date, indicating a disconnect between the stock performance and the initial excitement over its products.

The used Tesla Inc TSLA Cybertruck market has seen a major price change recently, mainly due to the availability of new models from Tesla.

Initially, used Cybertrucks were selling at high prices, with some going for over $200,000 and an average price of around $185,000 as of early April.

By September 2024, the average price for a used Cybertruck has dropped significantly to about $117,000. This decrease is because it's now easier to buy new Cybertrucks directly from Tesla.

The company has improved its distribution, offering clearer delivery windows and fixed prices. $99,990 for the All Wheel Drive model and $119,990 for the premium Cyberbeast model. This direct availability has reduced the demand for used vehicles, causing their prices to fall.

Although Tesla planned to release more affordable models, like a rear-wheel drive and a $39,900 version, these have been delayed or canceled. Nevertheless, there is still hope for cheaper models in the future, which could further impact market trends.

Tesla's stock hasn't matched the initial hype around its innovative products this year, showing a 10% loss year-to-date. The stock is currently stable within a wide trading range, moving between strong support at $100 and resistance at $300.

This range suggests Tesla’s stock might stay within these levels for some time unless significant market events occur. On August 25, Tesla's stock neared the $200 level before rebounding 15%, showing some resilience and potential for upward movement.

However, overall momentum remains stagnant, with investors and analysts closely monitoring for signs of a turnaround. Many investors remain hopeful for another notable rise like the 1400% surge from January 2020 to November 2021.

After such significant growth, stocks often enter a quieter phase, possibly lasting months or years. A clear break above $300, followed by surpassing the all-time high of $414, would indicate a strong upward trend, possibly leading to new record highs.

As Tesla navigates these complex market conditions, stakeholders carefully watch, recognizing that the company's innovative products and market dynamics create both opportunities and uncertainties.

After the closing bell on Wednesday, September 10, the stock closed at $226.17, trading up by 4.70%.

This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.