Tesla Stock Rebounds After Rumors and Support Test, Focus Shifts to Robotaxis and Q1 Earnings

Tesla stock dropped over 6% last week on rumors of a scrapped low-cost EV project, despite Elon Musk denying these rumors
Tesla rebounded 1.86% in premarket trading on Monday after Musk announced an upcoming robotaxi unveiling event
Analysts believe prioritizing robotaxis over low-end EVs is the right strategic move for Tesla
Technical factors may also be at play, as Tesla bounced off support around $160 per share, suggesting potential for recovery
Investors will be watching Tesla’s upcoming Q1 earnings report and call on April 23rd for additional insight