2023 has been another roller-coaster ride for owners of Tesla (NASDAQ: TSLA) stock. Earlier this year (July actually), it was trading at $299. But the stock is on a downhill ride at the moment as the company reported a disappointing quarterly result last week. That sent its stock down by another 15% in less than a week to $212 (as of this writing).

Clearly, Tesla's stock price is going through a bit of a correction, and there is no immediate catalyst to offset the downward momentum. Worse, the downside risks have been building up over the last few months. In fact, there are indications the situation could deteriorate further.

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Source Fool.com