Tesla Shares Fail To Hold $300

Tesla Inc TSLA made company history this month when its shares broke $300, but it looks as though it’s exhausted momentum.

Although the stock, for the most part, sustained $300 from April 4 onward, shares dipped below the benchmark Wednesday afternoon and continued downward to close at $296.44.

In the past, shares generally peaked in the mid-$200s, with the last four years seeing selloffs at $246.41, $279.20, $280.02, $254.51 and $272.23.

A Last-Ditch Effort

Around the same time the stock dipped, CEO Elon Musk tweeted survey results favoring Tesla.

Autolist survey finds Tesla used car values are highest and sell fastest https://t.co/KcXFhqwXVa

— Elon Musk (@elonmusk) April 12, 2017

Previously, Musk’s rare online activity was enough to lend the stock a boost, but this effort — or perhaps coincidental timing — did little to reverse the plunge.

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