Tesla’s stock is on track for biggest one-day decline in months
The electric-vehicle maker’s TSLA, -3.64% stock was poised to notch its worst one-day percentage drop since April 26, when it fell 4.3%.
Earlier Wednesday, analyst Dan Levy at Barclays said that for all that Tesla has been a momentum stock often “driven by more than fundamentals,” the surge that started in April, in which Tesla shares have gained about 70%, is likely “too sharp” against “challenging” near-term trends.Tesla shares have been on a tear in recent weeks, boosted by news that major U.S. automakers such as Ford Motor Co. F, -1.58% and General Motors Co. GM, -0.
On Tuesday, EV startup Rivian Automotive Inc. RIVN, -7.10% announced a similar deal. The agreements have made Tesla’s EV fast-charging connector type, which it calls the North American Charging Standard, or NACS, the de facto standard in North America.Shares of Tesla have more than doubled this year, up 117%, compared with gains of around 14% for the S&P 500 SPX, -0.43% in the same period. The stock is also in the black for a 12-month span, up 13%, while the S&P 500 has advanced 16%.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Tesla Superchargers About to Get Crowded as Rivian Adopts Tesla Charging.Rivian joins Ford and GM in embracing Tesla's North American Charging Standard ports.
Leer más »
Tesla stock set for biggest 2-month surge since 2020 on charging dealsTesla stock is on track for the biggest 2-month surge since 2020 as the EV maker bags more charging deals
Leer más »
Downtown Cleveland Inc. supports street performance with Downtown Busker ProgramThe Downtown Busker Program, designed by Downtown Cleveland Inc., is back for its second year, ready to support Cleveland street performers, also known as Buskers.
Leer más »
Tickets for 75th San Antonio Stock Show & Rodeo go on sale WednesdayTickets for the San Antonio Stock Show and Rodeo’s 75th anniversary will go on sale Wednesday for all 22 rodeo and entertainer performances.
Leer más »
5 things to know before the stock market opens WednesdayHere are the most important news items that investors need to start their trading day.
Leer más »
Sunrise Growers recalls some frozen fruit sold at Walmart, Whole Foods, Target and Trader Joe’s for possible Listeria contaminationShares of SunOpta Inc. eased 0.1% in premarket trading Wednesday, after the food and beverage company said its Sunrise Growers Inc. subsidiary recalled of...
Leer más »