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Why Tesla Shares Swung Wildly Friday

3 years 10 months ago
What happened Tesla (NASDAQ: TSLA) shares have dropped, jumped, and then dropped again today. And that makes some sense considering the news of the day. After sinking as much as 3.5%, the stock rose as high as 2.6% Friday morning. As of 12:42 p.m. ET, Tesla shares were back tradi

QQQ, TSLA, META, PEP: Large Outflows Detected at ETF

3 years 10 months ago
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Invesco QQQ (Symbol: QQQ) where we have detected an approximate $1.2 billion dollar outflow -- that's a 0.8% decrease week over week (from 554,150,0

5 Momentum ETFs to Tap as Market Awaits Santa Claus Rally

3 years 10 months ago
Wall Street has been on a tumultuous ride ahead of Christmas as recession fears triggered by the re-emergence of the Fed’s hawkish tone led to risk-off trading. The weak result from the Micron Technology MU and Tesla TSLA sell-off added to the chaos. The weak trend might

Tesla: Bull vs. Bear Case

3 years 10 months ago
If you follow markets, it should be no secret that Tesla TSLA stock rapidly declined over the past year. While the S&P 500 Index is down 18.2%, shares of Tesla are down a whopping 63.6%.

Company News for Dec 23, 2022

3 years 10 months ago
Shares of Micron Technology Inc. MU  tumbled 3.4% after posting first-quarter fiscal 2023 adjusted loss per share of $0.04, wider-than the Zacks Consensus Estimate of a loss per share of $0.02.Shares of CarMax Inc. KMX tanked 3.7% after reporting third-quarter fiscal 2023

TSLA, RIVN, NIO: 3 EV Stocks to Gain in 2023, Says Analyst

3 years 10 months ago
Mizuho Securities’ Vijay Rakesh believes that the high-interest rates and soaring energy prices will impact the affordability of cars and hurt the end market demand for vehicles in 2023. While the analyst sees slowing global auto sales, he expects EVs (Electric Vehicles) to continue to grow. He recommends a Buy on the shares of Tesla ( NASDAQ:TSLA ), Rivian Automotive ( NASDAQ:RIVN ), and Nio ( NYSE:NIO ).  Rakesh stated, “We believe global Auto sales are slowing, though production (LVP) is improving modestly as supply chain improve. The result is sliding auto prices and increasing dealership inventories. We also see interest rates trends impacting consumer demand near-term - a challenge for Auto and EV OEMs globally.”  Despite the challenges, Rakesh expects EV penetration to improve. This would support TSLA, RIVN, and NIO. However, he reduced his price target on these three stocks due to consumer headwinds.  While Rakes is bullish on these  EV stocks, let’s check how they stack up on TipRanks’ stock analysis tools.  Is TSLA a Buy or Sell? Supply shortages, increased competition, and the Twitter nightmare lowered Tesla stock. TSLA stock has lost about 64% of its value year-to-date. However, most Wall Street analysts maintain their bullish stance on TSLA stock.  On TipRanks, TSLA stock has received 19 Buy, 10 Hold, and two Sell recommendations for a Moderate Buy consensus rating. Furthermore, analysts’ average price target of $272.41 implies a stellar 117.32% upside potential.  It’s worth highlighting that hedge funds have bought the dip in TSLA stock. Our data shows that  hedge funds bought 1.1M TSLA stock last quarter. However, insiders, including its CEO,  Elon Musk,  sold TSLA stock. Overall, TSLA stock has a Neutral Smart Score of six.  What is the Prediction for RIVN Stock? Production challenges have weighed on Rivian stock. Like TSLA, analysts are cautiously optimistic about RIVN stock. It has received 12 Buy, four Hold, and two Sell recommendations for a Moderate Buy consensus rating.  Moreover, analysts’ average price target of $42.13 implies 113.53% upside potential. While Street is cautiously optimistic about RIVN,  hedge funds sold 442.1K shares in the last three months. Meanwhile, RIVN stock has an Underperform Smart Score of two on TipRanks.  Is NIO a Buy, Sell or Hold? Nio stock is down about 64% year-to-date. Despite the significant correction, NIO stock carries a Moderate Buy consensus rating on TipRanks. It has received eight Buy and four Hold recommendations. Moreover, analysts’ average price target of $16.31 implies an upside potential of 44.46%.  TipRanks’ data shows that hedge funds are optimistic about NIO and  acquired 536.5K shares last quarter. Also, Nio stock sports an Outperform Smart Score of  eight on TipRanks. Bottom Line   The significant decline in shares of these EVs makes them attractive. However, competitive and macro headwinds could pose challenges. While TSLA, RIVN, and NIO stock command a Moderate Buy consensus rating on TipRanks, only Nio has an Outperform Smart Score on TipRanks.  Disclosure

MORNING BID-Grinch (re)appears

3 years 10 months ago
A look at the day ahead in European and global markets from Ankur Banerjee Ignoring a hawkish Fed, investors attempted the briefest of Santa rallies this week but revised U.S. GDP data and relatively low claims for unemployment benefits have brought back worries of higher-for-longer interest rates.
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