The U.S. House Financial Services and Senate Banking committees said on Thursday they will hold hearings on the stock market after users of investment apps faced trading limits following the "Reddit rally" that put a charge into GameStop and other volatile stocks that were touted in online forums.
At odds over most issues, Democrat Alexandria Ocasio-Cortez and Republican Ted Cruz agreed on Thursday that Congress needed more information about online trading platform Robinhood Markets Inc's decision to restrict retail trading in shares of GameStop and other stocks that have experienced dramatic gains this week attributed to social media-driven trading.
Wall Street's main indexes jumped on Thursday as mega-cap technology stocks tried to regain lost ground following a sharp sell-off after fears eased around hedge funds selling off long positions to cover a short squeeze.
What happenedShares of Tesla (NASDAQ: TSLA) fell sharply on Thursday, declining as much as 7.3% at one point. As of 11:15 a.m. EST, however, the stock was down only 2.4%.
One of the first start-ups to be hailed as a "Tesla killer" is finally going public. California-based Faraday Future said on Thursday that it has agreed to merge with a special-purpose acquisition company (SPAC), Property Solutions Acquisition (NASDAQ: PSAC), in a deal that value
In early trading on Thursday, shares of Charter Communications topped the list of the day's best performing components of the Nasdaq 100 index, trading up 7.2%. Year to date, Charter Communications has lost about 0.2% of its value.
Wall Street's main indexes rose on Thursday, as a reversal of declines in mega-cap technology stocks helped investors look past data which showed another sharp contraction in the U.S. economy.
Tesla Reported Its First Full-Year ProfitFollowing an incredible run for Tesla (NASDAQ: TSLA) stock in 2020, expectations were high going into its fourth-quarter earnings report. Enthusiasts of electric vehicle stocks were expecting another quarter of strong profits. They were al
The S&P 500 and the Dow Jones indexes were set to open higher on Thursday, shrugging off data which showed another sharp contraction in the U.S. economy and a rise in weekly jobless claims.
After a successful SPAC acquisition late last year, QuantumScape (NYSE: QS) stock skyrocketed almost four-fold from its first day of trading. Only to come down to the middle atmosphere in recent days. To say there has been a lot of speculation about this company's stock would be
Wall Street analysts on Thursday estimated Tesla Inc will hand over at least 50% more vehicles in 2021, a day after the electric carmaker disappointed investors by holding back on providing clear delivery targets.
Investors will have a flurry of earnings reports to digest this morning as well as a full plate of economic data, including the first look at U.S. GDP in the December quarter
In sports terms it's the grand slam (or hat trick, or triple-double) of the investing world. That is to say, doubling your money isn't entirely unheard of, but it is relatively rare.Except, doubling a portfolio's value isn't nearly as unusual or difficult as some investors feel i
Alongside the fourth-quarter and full-year 2020 results Tesla (NASDAQ: TSLA) released on Wednesday, the company also made some surprise product announcements. The company overhauled the design of its flagship Model S and X vehicles, including new steering wheels, a new display in
The S&P 500 and the Dow index futures traded in a tight range on Thursday, ahead of data which will likely show another sharp contraction in the U.S. economy, while Nasdaq futures slipped following a decline in big-technology companies.
2020 was a volatile year for the stock market, but it ended with high gains for the broader market. Many experts are questioning whether this can continue into 2021, or if another correction is coming soon.
Chipmaker STMicroelectronics is stepping up investment to meet a sudden surge in demand from the auto industry, confident it can reap the benefits in an over-stretched semiconductor industry, its chief executive said on Thursday.
Making money by betting a company's shares will sink in value has become more challenging in recent weeks as markets rocketed higher and a growing wave of investors became ready to take on short sellers at almost any cost - even threatening their lives.
Tesla dropped almost 8% in Thursday's pre-market trading session after the electric vehicle (EV) maker's fourth-quarter earnings lagged analysts' forecasts.
Tesla’s (TSLA) 4Q adjusted earnings of $0.80 per share jumped 95% year-over-year but missed analysts’ expectations of $1.02.
Meanwhile, the EV maker reported total sales of $10.74 billion in the quarter, which came in ahead of the Street’s estimates of $10.47 billion. Moreover, the top-line marked a solid year-over-year improvement of 46%, reflecting increased vehicle deliveries, partially offset by an 11% decline in average selling price.
Tesla said the company expects to achieve 50% average annual growth in vehicle deliveries in the coming years. Volumes may even grow at a faster rate in some of the years and 2021 could be one of them, the company projected. (See TSLA stock analysis on TipRanks)
Furthermore, Tesla updated that it is on track to start deliveries of Model Y in 2021 from its Texas and Berlin Gigafactory. It also expects to start shipping Tesla Semi models this year.
Following the earnings release, Wedbush analyst Daniel Ives reiterated a Hold rating and price target of $950 (9.9% upside potential) on the stock. In a note to investors, Ives wrote, “While delivery/production numbers were known and beat the Street’s expectations given the current economic backdrop, investors continue to be laser focused on the profitability picture of TSLA.”
TSLA scores a Hold consensus rating based on 13 Holds, 7 Buys, and 3 Sells. The average analyst price target of $650.21 implies downside potential of about 24.8% to current levels. Shares have soared over 674% over the past year.
Electric-vehicle maker Faraday Future has agreed to go public through a merger with blank-check firm Property Solutions Acquisition Corp in a deal valuing the combined entity at $3.4 billion, the latest firm to take the SPAC route to enter public markets.
Reuters
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