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Tesla Stock Drops 3% At Session Start On Monday, Underperforms Market

Via News Editorial Team

December 21, 2020

Tesla Stock Drops 3%  At Session Start On Monday, Underperforms Market

Shares of Tesla fell 3.84% to $668.34 at 09:39 EST on Monday, following yesterday's upward trend. The Nasdaq Stock Market is sliding 0.07% to $12,755.60, following yesterday's downward trend, This seems, so far, a somewhat rough trend exchanging session today.

Tesla's last close was $655.90, 2.45% under its 52-week high of $684.73.

News about Tesla today

Tesla drops 4.5% in first day of trading on the s&p 500 index. According to today's article on Bloomberg Quint, "According to Susquehanna quantitative derivative strategist Souhow Yao, the inclusion will have a limited impact on implied volatility, and that if Tesla was added a month ago, volatility for the S&P 500 would have actually decreased.", "Read more: Hungry Index Funds Cram Tesla Into the S&P 500 at a Record High"

Tesla is technically the 'spiders' 5th highest weighted component. According to today's article on MarketWatch, "But Tesla's weighting in the SPY is fifth at 1.686947, compared with Alphabet's Class A shares weighting of 6th at 1.661148 and the Class C shares weighting of 7th at 1.608403. ", "Tesla Inc. is technically a lot smaller than Google-parent Alphabet Inc. , but it technically carries a higher weighting in the SPDR S&P 500 ETF (SPY), given that Alphabet's weightings are split between its Class A and Class C shares. "

Tesla, Zoom, Nike: what to watch when the stock market opens today. According to today's article on The Wall Street Journal, "Tesla joins the S&P 500 today after closing at its latest record high on Friday. "

Stocks making the biggest moves in the premarket: Tesla, Nike, JPMorgan chase & more. According to today's article on CNBC, "Tesla (TSLA) - Tesla joins the S&P 500 index as of today, following a high-volume day of trading Friday as index fund managers prepared for its inclusion. ", "Tesla will have the 6th largest market cap in the index, behind Apple, Microsoft, Amazon, Alphabet, and Facebook. "

Tesla's Sales

Tesla's sales growth is 35.4% for the current quarter and 59.8% for the next. The company's growth estimates for the present quarter and the next is 114.6% and 265.2%, respectively.

Tesla's Revenue

Year-on-year quarterly revenue growth grew by 39.2%, now sitting on 28.18B for the twelve trailing months.

Tesla's Stock Yearly Top and Bottom Value

Tesla's stock is valued at $668.34 at 09:39 EST, under its 52-week high of $684.73 and way above its 52-week low of $70.10.

Tesla's Moving Average

Tesla's worth is way above its 50-day moving average of $518.34 and way higher than its 200-day moving average of $380.50.

Previous days news about Tesla

Tesla joins the s&p 500: five things to watch. According to The Wall Street Journal on Fri Dec 18, "Tesla's addition to the S&P 500 coincides with quadruple witching, which occurs four times a year and refers to the day that options and futures on both indexes and stocks expire simultaneously. ", "Because of the firm's size and the volatility of its shares, Tesla's addition may ripple through the market in additional, unpredictable ways, traders said."

Elon Musk should apologize for 'insensitive' comments mocking gender pronouns, says a group that ranked Tesla as a top lgbtq-friendly workplace. According to Business Insider on Fri Dec 18, "Musk also shared a 2017 tweet from his electric vehicle company Tesla that included a link to the HRC's Corporate Equality Index (CEI) index, saying the company was "very proud" of its score, and that LGBTQ inclusion was an "important part" of its culture.", "Tesla's CEO Elon Musk should apologize for "insensitive" comments that mocked gender pronouns, LGBTQ activism group the Human Rights Campaign (HRC) told CNBC Thursday."

Citadel trading chief says Tesla is risk to other s&p 500 stocks. According to Bloomberg Quint on Fri Dec 18, "Money managers may have already started adjusting portfolios in anticipation of the changes, with Tesla's share offering earlier this month providing an opportunity to build positions. ", "Tesla is the biggest entrant by market value in history. "

Bets on Apple, Tesla, zillow and more techs will pay off in 2021, 1 analyst says. According to MarketWatch on Fri Dec 18, "It's also a big day for Tesla - its stock price at the end of Friday , Ives believes the cutting-edge car maker will find continued success with its Giga 3 factory in China, which is slated to begin deliveries of the Tesla Model Y next month, hitting the 250,000 annual delivery target ahead of expectations.", "But initial reviews of "Cyberpunk 2077" on consoles were terrible, and now Sony has pulled the game - which features Tesla Chief Executive Elon Musk and actor Keanu Reeves - from the PlayStation store. "

Stock market hit records as wall street kicks off trade in quadruple-witching Friday; Tesla set to enter the s&p 500. According to MarketWatch on Fri Dec 18, "The day coincides with high volume and potentially outsize volatility and also comes as Tesla Inc. TSLA is expected to be added to the S&P 500 index following the close of Friday trade."

I'll take Tesla for $1, please. According to The Wall Street Journal on Fri Dec 18, "Let's say you want to invest in Tesla Inc., which joins the S&P 500 next week. "

Tesla forced to halt some berlin site work over missed payment. According to Bloomberg Quint on Fri Dec 18, "Tesla needs to provide a 100 million-euro ($122 million) deposit with local authorities to cover the cost of tearing down the factory if the project doesn't receive final approval, Berlin's Tagesspiegel newspaper reported earlier. ", "Tesla is also still waiting for a decision from a Berlin court related to the same tree-clearing, after two environmental groups complained the company isn't doing enough to protect local lizards and snakes."

Tesla gains 4% to record-highs ahead of its unprecedented inclusion in s&p 500 index. According to Business Insider on Fri Dec 18, "Shares of Tesla are up 684% year-to-date as of Thursday's close, while the S&P 500 is up 15% over the same period.", "There should be plenty of liquidity to absorb the buying pressure in Tesla on Friday, as the rebalancing day coincides with quadruple witching, or the day that options and futures on both indexes and stocks expire simultaneously. "

Stock market briefly hits records as wall street kicks off trade in quadruple-witching Friday; Tesla set to enter the s&p 500. According to MarketWatch on Fri Dec 18, "The day coincides with high volume and potentially outsize volatility and also comes as Tesla Inc. is expected to be added to the S&P 500 index following the close of Friday trade."

Buying Tesla as it heads into the s&p 500? here's one analysis you should read. According to MarketWatch on Fri Dec 18, "Tesla is by far the largest company to be added to the S&P 500 index . ", "Tesla Inc. is set to join the U.S. equities' major leagues on Monday, a relatively routine move turned unprecedented by the sheer size of the Silicon Valley electric-car maker's market valuation."

Dow ends lower but finishes off Friday's worst levels as lawmakers stumble toward coronavirus aid deal; Tesla officially in s&p 500. According to MarketWatch on Fri Dec 18, "The day's trading action also was colored by a monstrous rebalancing of the S&P 500 and a quadruple-witching Friday that comes as Tesla was official gaining inclusion into one of the most exclusive clubs on Wall Street: The S&P 500. ", "Shares of Tesla finished the session gained 0.4%. "

Tesla stock ends with one final rally ahead of s&p 500 debut. According to MarketWatch on Fri Dec 18, "The S&P's index manager announced Tesla's inclusion on Nov. 16, after snubbing the company in an earlier rebalance.", "Tesla shares turned lower in the extended session Friday, down 2% at last check."

Tesla jumps 6% in heavy volume ahead of s&p 500 entry, stock then falls a bit in after hours. According to CNBC on Fri Dec 18, "Shares of Tesla traded more than four times their 30-day average volume on Friday as passive funds bought the stock ahead of Tesla joining the S&P 500. ", "Based on Tesla's Friday average price of $679.85, more than $131 billion worth of stock changed hands."

Tesla shares hit record after last-minute surge. According to The Wall Street Journal on Fri Dec 18, "Tesla trading was heavy throughout Friday before rising to a fever pitch in the last moments of the market day, when index funds that track the S&P began preparing to purchase billions of dollars worth of Tesla stock to match their holdings with the broad index.", "Tesla shares soared in the morning before slumping in late-afternoon trading and trading in and out of the red throughout the last hour. "

Hungry index funds cram Tesla into the s&p 500 at a record high. According to Bloomberg Quint on Fri Dec 18, "Almost 200 million Tesla shares changed hands in the regular session.", "Both the benchmark and Tesla itself also fluctuated widely heading into the close. "

Musk adds $9 billion to fortune as Tesla set to join s&p 500. According to Bloomberg Quint on Fri Dec 18, "Tesla shares have soared 731% this year, closing at a record $695 on Friday. ", "Elon Musk's personal fortune hit a new high Friday as Tesla Inc. prepares to make its debut in the S&P 500 Index."

Wall street has launched an electric car SPAC craze trying to find the next Tesla. experts warn they're creating the next dot-com bubble.. According to Business Insider on Sat Dec 19, "There are a number of factors that could pop the EV industry's SPAC bubble, according to Whiston, Kim, and Nelson: investors tiring of quarter after quarter of losses, startups failing to gain a foothold in the market while burning through their cash reserves, Tesla's fortunes taking a turn for the worse, interest rates rising.", "Tesla is the only US automaker selling vehicles on a large scale that was founded after 1925."

The s&p 500's decision to include ultra-volatile Tesla in the index is reckless and dangerous. According to Business Insider on Sat Dec 19, "Tesla should do many impressive things over the coming decade, but the company should also deliver a welter of disappointments. ", "But GM doesn't need to build new factories, whereas Tesla has one under construction in Germany and one planned for Texas. "

Tesla bulls double down as stock reaches new heights. According to The Wall Street Journal on Sun Dec 20, "Tesla bulls say the company's potential is limitless and are buying even more stock as shares charge to new highs.", "Tesla's run has been so powerful that many bearish investors have abandoned their money-losing bets, sending short positions on the stock to a record low. "

Tesla enters the s&p 500 with 1.69% weighting in the benchmark, fifth largest. According to CNBC on Sun Dec 20, "Goldman Sachs previously estimated that the S&P 500's total return would have been lifted by 2 percentage points had Tesla been a constituent all year. ", "The historic addition to the S&P 500 put a bow on Tesla's outstanding 2020. "