Tesla fails to hold the key $300 level (TSLA)

Tesla has given up its early gains. 
Shares hit almost $310 apiece early Monday, but have fallen back below the key $300 level. 
Tesla has slumped back below a key level, setting up the possibility of further weakness. 
Shares got off to a strong start Monday, racing to nearly $310 apiece before rolling over. The early strength came despite the electric-car maker announcing it would recall a total of 8,898 Model S cars in China due to faulty bolts that could corrode