110.40 0.00 (0.00%)
After hours: 5:31PM EDT
|Bid||0.00 x 1400|
|Ask||0.00 x 2200|
|Day's Range||108.35 - 110.62|
|52 Week Range||90.12 - 118.13|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.00|
|Expense Ratio (net)||0.14%|
Today, investors’ worries about the pending approval of the settlement between Tesla (TSLA) CEO Elon Musk and the SEC came to an end. The federal court’s judge “approved the settlement between” the SEC and Musk, Reuters reported. After the news of the approval, Tesla stock surged nearly 5%.
According to the data compiled by Reuters on October 11, about 29.0% of 28 analysts covering Tesla (TSLA) gave its stock a “buy” recommendation. Another 36.0% recommended a “hold,” and the remaining 36.0% of analysts covering TSLA suggested a “sell” for its stock.
In the previous part, we looked at analysts’ views on Ford Motor Company (F). The company’s F-Series pickup trucks have been America’s best-selling trucks for over four decades. Despite its increasing focus on electric vehicles (XLY) and autonomous vehicles, Ford stock has underperformed its peers in 2018 so far.
According to Reuters, ~19.0% of the 21 analysts covering Ford Motor Company (F) stock gave it a “buy” recommendation on October 11. About 71.0% of these analysts recommended a “hold” on the company’s stock, and the remaining 10.0% of these analysts suggested a “sell.”
According to recent data compiled by MarkLines Data Center, September US auto sales (IYK) stood at 1.43 million vehicle units. This was ~6.0% lower than the ~1.52 million vehicle units sold in September 2017. September’s total US vehicle sales figures were also lower than the 1.48 million vehicle units sold in August.
Most of the apparel sector stocks were deep in the red on October 10. European fashion giant LVMH-Moet Hennessy Louis Vuitton has a cautious view on China.
Valuation multiples are widely used in the auto industry to compare companies. In Tesla’s (TSLA) case, no other publicly listed automaker is similar enough to its business to draw a comparison. Let’s see how Tesla’s valuation multiples have changed in 2018 so far.
Domino’s Pizza (DPZ) is scheduled to announce its third-quarter earnings before the market opens on October 16. As of October 10, it was trading at $274.92, which represents a fall of 3.1% since the announcement of its second-quarter earnings on July 19.
In the previous article, we talked about the top three reasons why Tesla (TSLA) stock looks like an attractive “buy” at the moment. The company has been able to keep the pace with its ambitious vehicle production and deliveries targets in the last couple of quarters. Now, let’s discuss some key risks that you should be aware of when considering Tesla stock.
In the week ended October 5, Harley-Davidson (HOG) stock fell 3% compared to a 1% fall in the S&P 500 index. The third quarter was the only quarter so far in 2018 that HOG stock has risen. Despite a 7.7% recovery in HOG stock in the third quarter, its price trend is still reflecting a weakness since it hasn’t yet violated an important resistance near $46.
In the previous article, we discussed how Tesla (TSLA) has managed to bring changes to the auto industry by changing auto buyers’ (XLY) perceptions about EVs (electric vehicles). As of October 9, Tesla’s market cap was at $44.8 billion compared to General Motors’ (GM) $46.1 billion, Ford Motor Company’s (F) $35.7 billion, and Ferrari’s (RACE) $23.7 billion. One of the most common arguments against Tesla has been its execution problems.
In the last week, the broader market has witnessed a sharp negative movement, which may have been triggered by a variety of factors, including rising bond yields, fears of a slowdown in China, and America’s ongoing trade tussle with China.
The auto industry is one of the toughest industries to bring change to. Before Tesla came into existence, legacy automakers General Motors (GM), Ford Motor Company (F), and Toyota Motor (TM) ruled the industry for decades without any significant transition from gasoline to alternative fuel on a large scale. Musk entered the highly capital intensive auto industry with the idea of accelerating the transition to sustainable transportation with Tesla vehicles.
In the second quarter, Tesla (TSLA) outperformed its peers and the broader market. General Motors (GM) also ended the second quarter in the positive with an 8.4% gain. Ford Motor Company (F) and Fiat Chrysler Automobiles (FCAU) fell 0.1% and 7.9%, respectively.
In the week ended October 5, Ferrari (RACE) stock traded on a negative note for the second consecutive week. It fell 3.4% after a minor fall of 0.4% in the previous week. It was the only automaker to end its first three quarters of 2018 in positive territory. In the third quarter, Ferrari stock rose 1.4% after posting 15% and 12% gains in the first and second quarters, respectively.
On October 9, CNBC reported that Bill Ackman of Pershing Square Capital revealed that the fund has bought 15.2 million shares in Starbucks (SBUX) worth ~$900 million. The news appears to have excited investors. Starbucks stock increased to a high of $59.70 on October 9 before closing at $57.71, which represents a rise of 2.1% from the previous day’s closing price.
In the week ended October 5, Tesla stock (TSLA) fell 1.1% after tanking 11.5% in the previous week. In the third quarter, Tesla fell 22.8% after gaining 28.9% in the second quarter. As of October 8, Tesla has fallen 5.4% MTD (month-to-date).
Last week, which ended on October 5, General Motors (GM) stock rose 1.3% after losing 4.7% in the previous week. The stock rose 8.4% in the second quarter and then turned negative in the third quarter, falling 14.5%. As of October 8, it was trading with 1.7% month-to-date gains but 16.4% year-to-date losses. Let’s take a look at GM’s key technical levels before we explore its recent fundamentals.
Today, Tesla (TSLA) stock seems to be on the path to a sharp recovery. In the previous five sessions, Tesla has fallen sharply by 19.4%. Let’s look at what could be driving the recovery in Tesla stock.
In the week ended October 5, Ford (F) stock settled at $9.12, a 1.4% weekly loss. In the previous week, it lost 6.1%, making those two weeks the biggest weekly losses in the last 35 weeks. So far in 2018, as of October 8, Ford stock has seen a 25% value erosion. By comparison (XLY), General Motors (GM), Fiat Chrysler (FCAU), and Tesla (TSLA) have fallen 16.4%, 3.8%, and 19.5%, respectively, year-to-date.
Last week, which ended on October 5, the broader market traded on a slightly negative note due to rising bond yields and uncertainties related to a global trade war. That week, the S&P 500 (SPY) benchmark remained negative, falling 1%.