I think the point really is that Tesla has fallen very very short on positive sentiment currently. Almost any news at this point is filtered negatively towards Tesla. Popular Mechanics proclaiming Model 3 car of the year would typically command a substantial climb in share price, but that requires some positive sentiment to be present. Such a positive headline amplifies positive sentiment. At this point, since positive sentiment is so off the charts low, there is almost nothing positive to amplify. Consequently, the stock may not even move on that news. Buyers are understandably cautious with this current overly negative sentiment.
It looks like after hours, the stock moved further down on news of an additional government agency joining the investigation of the fatal Model X accident recently. Is that big negative news? Not really, but with the massively negative sentiment, such news is received as a catalyst for amplifying the negative sentiment further, dropping the share price, while positive news like the car of the year news will have little effect now. That's all that I see going on at this point. This dip has gotten to the point where it really is that simple. The market is dominated by herd-mentality. At some point in the not too distant future, there will be more positive sentiment than there is now, and the stock will climb. Shorts will start to cover, buyers will return, more shorts will cover, and the fear that longs are facing now will shift back to the shorts. They will wonder why the stock is climbing so much when nothing has changed from when they were making so much money as TSLA crashed through support after support on this dip. The billion dollar question is when.