What happened
A day after Tesla (NASDAQ: TSLA) was hit with a massive vehicle recall related to its driver-assist software, investors are still trying to make sense of what the government's inquiry will mean for the business. There doesn't seem to be any clear consensus, with Tes
Electric vehicle maker Tesla Inc will soon confirm it has chosen Mexico as a location for a new plant, and CEO Elon Musk is planning to speak with Mexican President Andres Manuel Lopez Obrador, Mexico's top diplomat said on Friday.
For Immediate ReleaseChicago, IL – February 17, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured
It took a while, but it’s looking like Tesla Inc’s (NASDAQ: TSLA) recent price cuts from last month are paying off, and the stock is loving it. Shares of the electric vehicle (EV) king are up 100% from where they started the year, and seemingly well on their way to undoing last
It took a while, but it’s looking like Tesla Inc’s (NASDAQ: TSLA) recent price cuts from last month are paying off, and the stock is loving it. Shares of the electric vehicle (EV) king are up 100% from where they started the year, and seemingly well on their way to undoing last
The NASDAQ 100 Pre-Market Indicator is down -91 to 12,351.48. The total Pre-Market volume is currently 32,880,556 shares traded.The following are the most active stocks for the pre-market session: ProShares UltraPro QQQ (TQQQ) is -0.66 at $23.91, with 4,645,664 shares traded. Th
China's CATL, the world's largest battery maker, has offered discounts to some Chinese automakers it supplies, reflecting a downturn in the price of lithium and a bid to win more orders, three people with knowledge of the offers said.
Not every stock is a successful investment from day one; many stocks that went public during the height of the bull market in 2020 and 2021 are still down today. Electric vehicle start-up Rivian Automotive (NASDAQ: RIVN) has been among Wall Street's biggest disappointments. Share
Well-chosen growth stocks could help you earn a fortune in the stock market. The challenge, of course, is being able to identify the businesses that are best positioned to profit from powerful long-term trends in fast-growing industries.
Electric Vehicles (EVs) are undoubtedly the future of mobility. Thanks to their growing adoption and favorable government policies, EV stocks could be a highly profitable bet in the long term. While Tesla (
NASDAQ:TSLA
) is one of the
top stocks that investors love, speculative bets like Mullen Automotive (
NASDAQ:MULN
) also draw a lot of attention.
With secular sector trends, should investors stick to industry leaders like Tesla or allocate some of their funds to companies like Mullen? Let’s dig deeper.
MULN vs. TSLA
Before moving ahead, let’s admit that it will be unfair to compare Mullen against Tesla. One is an EV pioneer with bulging sales and growing profitability. Another is in its developmental stage and has yet to start production and prove its product's market fit. But before you completely write off Mullen, remember that Tesla was once a little-known company as well.
As for Mullen, a series of positive developments have caught our attention. It secured exclusive sales and distribution rights for Mullen’s I-GO (an urban delivery EV) in select European markets. Further, it got a purchase order of about $200 million (for 6,000 Class 1 EV cargo vans), which is encouraging.
Further, Mullen completed the acquisition of a controlling interest in Bollinger Motors. Also, it acquired the assets of Electric Last Mile Solutions. These acquisitions will help the EV maker move toward production. It’s worth highlighting here that Mullen plans to start the retail production of its electric crossover, the Mullen FIVE, in Q4 of 2024.
As the company is heading towards production, BlackRock (
NYSE:BLK
) increased its
holdings in Mullen Automotive.
While the recent developments pave the way for future growth, a heightened competitive environment, equity dilution, and challenges in accessing capital could hurt its prospects.
What’s the Prediction for Mullen Stock?
Given the challenges mentioned above and the uncertain economic environment,
MULN stock carries a Smart Score of three on TipRanks. This implies that it is more likely to underperform the benchmark index.
On the other hand, TSLA stock commands an
Outperform Smart Score of nine, with hedge funds and analysts showing confidence in its prospects.
Bottom Line
Needless to say, Tesla is a clear winner here. Mullen is a pre-revenue company and carries significant risks compared to Tesla. It will have a lot of catching up to do to generate sales. However, MULN is moving in the right direction and could generate explosive returns as the production of its Mullen FIVE starts.
Thus, investors who want to play it safe can consider
TSLA stock. Meanwhile, investors with an appetite for high risk can allocate a small portion of their portfolio to MULN stock.
Disclosure
As much as investors might dislike stock market corrections, crashes, and bear markets, they're a normal part of the investing cycle. Last year, all three major U.S. stock indexes were, at one point, mired in a bear market. Worse yet, the Dow Jones Industrial Average, S&P 500
Manchester United will receive multiple offers when an initial deadline for bids expires on Friday, sources familiar with the process said, kicking off potentially the largest sports deal ever.
You may have finished celebrating Valentine’s Day, but gifting something unique, like a stock that will enhance the financial well-being of your partner, shouldn’t be limited to a day. If you plan to gift shares, we recommend stocks with the highest trading volume. Using TipRanks’
U.S. Stock Movers tool, we have selected Tesla (
NASDAQ:TSLA
), Amazon (
NASDAQ:AMZN
), and Apple (
NASDAQ:AAPL
).
Our data shows that Tesla has the highest average trading volume of 160.66M. It is followed by Amazon and Apple, with an average trading volume of 76.18M and 75.63M, respectively.
These three stocks have a good chance of making your loved ones wealthier by the next Valentine’s Day. Holding these stocks for longer can be even more rewarding. Let’s dig deeper.
What is Tesla’s Highest Price Target?
TSLA stock is riding high on solid demand and an expected improvement in production. It has gained about 64% year-to-date in 2023. Moreover, its highest price target of $300 from Piper Sandler analyst
Alexander Potter shows a further upside of 48.49%.
Among the 31 analysts providing recommendations on
Tesla stock, 22 have rated it a Buy. Meanwhile, six analysts have a Hold, while three maintain Sell recommendations. In aggregate, TSLA stock sports a Moderate Buy consensus rating. As Tesla stock gained quite a lot in 2022, the analysts’ consensus 12-month price target of $202.46 is roughly in line with its closing price on February 16.
Nevertheless, TSLA stock has a positive signal from hedge fund managers, who
bought 780.8K shares in the previous quarter. Meanwhile, TSLA has an Outperform Smart Score of nine.
What is the Future of Amazon Stock?
Amazon is a leader in the e-commerce and cloud spaces, implying the company has stellar growth prospects in the coming years. Its stock took a beating amid pressure on consumer spending due to macro headwinds, adverse currency movements, and increased cost pressure. However, these issues are transitory, and AMZN will likely deliver solid growth as the macro environment shows signs of improvement.
This is also reflected in analysts’ positive ratings on AMZN stock. Among the analysts covering
AMZN stock, 36 rate it a Buy. Meanwhile, only three analysts recommend a Hold. Overall, Amazon sports a Strong Buy consensus rating on TipRanks. Amazon stock is up about 17% year-to-date. Further, analysts’ average 12-month price target of $137.05 implies 39.63% upside potential.
Besides for analysts, hedge funds are also optimistic about Amazon. They
bought 17.3M shares of AMZN last quarter. With positive signals from analysts and hedge funds, Amazon carries an Outperform Smart Score of nine.
Is Apple Still a Good Long-Term investment?
The macro headwinds weighed on
Apple’s sales in Q1. However, its long-term fundamentals remain intact, as AAPL is poised to benefit from strength in the Services segment, an increase in its installed base, and demand for its devices, including the iPhone.
Analysts also maintain a favorable outlook on
AAPL stock. Among the 29 analysts providing ratings on AAPL stock, 24 rated it a Buy, and five recommended Hold. Overall, it has a Strong Buy consensus rating.
AAPL stock also has a positive signal from hedge fund managers, who bought 11.2M shares last quarter. It’s worth highlighting that
Warren Buffett has also
increased his holding in AAPL stock. Meanwhile, BlackRock (
NYSE:BLK
)
bought more AAPL stock in Q4. Apple stock has a maximum Smart Score of “Perfect 10.” Note that
shares with a “Perfect 10” Smart Score have historically outperformed the S&P 500 Index (
SPX
) by a wide margin.
Bottom Line
Valentine’s Day is over, but you can always gift something unique, like a stock, to your loved ones that will add to their financial freedom. TSLA, AMZN, and AAPL are U.S. stocks with solid long-term growth prospects. All these stocks carry an Outperform Smart Score on TipRanks, suggesting they are more likely to outperform the benchmark index.
Meanwhile, investors can leverage
TipRanks’ Experts Center tool to identify top stocks that can outperform the broader market averages.
Disclosure
Tesla Inc said on Wednesday it laid off 4% of the employees in the Autopilot labeling team in Buffalo as part of a performance review cycle conducted every six months.
Amazon (NASDAQ: AMZN), Tesla (NASDAQ: TSLA), and Palantir Technologies (NYSE: PLTR) are attracting investors looking to add growth stocks to their portfolios. This video will answer which growth stock is the best one to buy.
The NASDAQ 100 After Hours Indicator is down -28.35 to 12,414.13. The total After hours volume is currently 101,856,244 shares traded.The following are the most active stocks for the after hours session: iShares 7-10 Year Treasury Bond ETF (IEF) is +0.108 at $96.25, with 8,661,8
Wall Street ended sharply lower on Thursday after unexpectedly strong inflation data and a drop in weekly jobless claims added to fears that the U.S. Federal Reserve will keep raising interest rates to tame high prices.
Wall Street ended sharply lower on Thursday after unexpectedly strong inflation data and a drop in weekly jobless claims added to fears that the U.S. Federal Reserve will keep raising interest rates to tame high prices.
Technology stocks fell late Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 0.4% and the Philadelphia Semiconductor Index sinking 0.9%.