On Friday, July 24, 2020, Tesla, Inc. (TSLA) stock closed at 1,417.00-96.07 (-6.35%). Shares of Tesla had a 5-day performance of -5.59%. On a YTD basis, the performance for Tesla stock is +238.73%.
A higher close for the US stock market, Dow Jones gained more than 350 points, Nasdaq made a new 52-week high, yes it underperformed. Latest stock market news for July 10, 2020.
The CBOE Volatility Index (VIX) index closed lower at 27.29-1.97 (-6.73%).
Stock movers
Tesla, Inc. (TSLA) stock was a stock mover closing above the 1,5000 level, at 1,544.65,+150.37 (+10.78%).
Tesla (TSLA) stock chart
Source: Stockscharts.com
Stock gainers
WiMi Hologram Cloud Inc. ADR (WIMI): 14.63, +10.79 +280.99% Wah Fu Education Group Ltd. (WAFU): 7.18,+ 2.18 +43.60% Inspired Entertainment Inc. (INSE): 3.28,+ 0.85 +34.98%
Stock losers
Golden Bull Ltd. (DNJR): 1.82, -0.58 -24.32% Centogene N.V. (CNTG): 13.30, -3.77 -22.09% Seres Therapeutics Inc. (MCRB): 4.51, -0.99 -18.00%
Most active stocks
NIO Inc. ADR (NIO): 14.98,+ 0.41 +2.81% WiMi Hologram Cloud Inc. ADR (WIMI): 14.63,+ 10.79 +280.99% American Airlines Group Inc. (AAL): 11.94,+ 0.76 +6.80%
Tesla (TSLA) stock made a new 52-week and closed above the $1,500 for the first time ever
Investing in stocks, choosing stocks to buy, stocks to sell is not an easy task. Speculators ignore the fundamentals of stocks and buy or sell stocks only to profit from short-term price movements. This is the game of the stock market. Tesla (TSLA) stock on Friday, July 10, 2020, made a new 52-week high and closed at 1,544.65,+150.37 (+10.78%).
Why I believe Tesla (TSLA) stock is extremely overvalued and a financial bubble
Two reasons:
1.Net income
2. Free cash flows
After 10 years of going public Tesla (TSLA) struggles to make a profit. And yet some Wall street analysts increase their price target on Tesla. For the years 2019, 2018, 2017 and 2016 the net income (in thousands) for Tesla was -862,000, -976,091 ,-1,961,400, and -674,914 respectively.
The free cash flows (in thousands) for the same years were 968,000, -221,714, -4,142,008 and -1,564,300 respectively. Turning to the quarterly numbers for the free cash flows, the figures for the last 4 quarters were -921,000, 976,000, ,346,400 and 590,399.
The market is pushing Tesla stock higher on hopes and expectations of an inclusion soon in the S&P 500 based on profitability for the last 4 quarters. Even if this is the case the valuation of Tesla stock to my financial analysis does not justify this stock price, and is too overvalued. The catalyst that Tesla will be a dominant player in the electric cars is not credible as competition is too intense from other car manufacturers. For now speculators drive the Tesla stock much higher. But even if the stock is included in the S&P 500, after such a big stock rally, who will drive the stock price higher?
I do not own or have sold any shares of Tesla, but this stock has moved too fast and too high without any solid fundamental reason.
TSLA stock price closed at $959.74 ,-26.24 -2.66% on June 26, 2020. Shares of Tesla (NASDAQ:TSLA) had a weekly performance of -4.11% for the week ending on June 26, 2020.
TSLA stock closed at 935.28-37.56 (-3.86%) on Friday June 12,2 2020. For the week ending on June 12, 202o TSLA stock had a performance of +5.60%. Shares of Tesla, Inc. (NASDAQ:TSLA) made a new 52-week the previous week. Tesla stock has a 52-week range of 211.00 – 1,027.48. Tesla stock has a Beta (5Y Monthly) of 1.17, and a PE Ratio (TTM) N/A. Tesla has a market capitalization of 173.471 Billion as of June 12, 2020.
“Tesla stock gets two downgrades, falls below $1,000.Tesla Inc. stock lost some of its luster Friday after Goldman Sachs and Morgan Stanley moved to downgrade the shares, saying there are risks investors might have ignored as they rewarded the company with a dizzying valuation.
Tesla TSLA, -3.86% shares fell on Friday but garnered a weekly gain of 5.6%. The shares closed at a record $1,025.05 on Wednesday.”
Tesla Inc.(NASDAQ:TSLA) stock performance for the week ending on June 5, 2020, was -1.39%. TSLA stock price has a 52-week range of 207.51 – 968.99 and a P/E ratio that is N/A. TSLA stock has a YTD performance of +111.71%. Shares of Tesla, Inc. have a beta of 1.23, and the company has a market cap of $164.27B.
Another day with strong gains for US stocks, and all major US stock market indexes closing higher. Dow 30 had the biggest gains, followed by Russell 2000. This is the stock market update at close on Wednesday, February 5, 2020:
How stock market closed on Wednesday, February 5, 2020-Financial and business news
S&P 500: 3,334.69,+37.10(+1.13%)
Dow 30: 29,290.85,+483.22(+1.68%)
Nasdaq: 9,508.68,+40.71(+0.43%)
Russell 2000: 1,681.92,+25.15(+1.52%)
Stocks biggest gainers
Biogen Inc. (BIIB) was among stocks biggest gainers closing at 332.87+49.58 (+17.50%).
BIIB daily stock chart | stocks | stock market
Stocks biggest losers
Tesla, Inc. (TSLA) was among stocks biggest losers closing at 734.70-152.36 (-17.18%).
TSLA daily stock chart | stocks | stock market
Stock investing | Stock trading | Most active stocks
Snap Inc. (SNAP) was among most active stocks closing at 16.19-2.79 (-14.70%).
SNAP daily stock chart | stocks | stock market
U.S. Sectors & Industries Performance
Energy was the best performing sector +3.78%, Real Estate was the worst performing sector -0.07%.
US stocks continued their rebound moving higher. A stock market rally led all major stock market indexes higher.Nasdaq made a new record close. This is the stock market update at close on Tuesday, February 4, 2020:
How stock market closed on Tuesday, February 4, 2020-Financial and business news
S&P 500: 3,297.59,+48.67(+1.50%)
Dow 30: 28,807.63,+407.82(+1.44%)
Nasdaq: 9,467.97,+194.57(+2.10%)
Russell 2000: 1,656.77,+24.56(+1.50%)
Stocks biggest gainers
Evoqua Water Technologies Corp. (AQUA) was among stocks biggest gainers cl0sing at 24.01+3.47 (+16.89%).
AQUA daily stock chart | stocks | stock market
Stocks biggest losers
Micro Focus International plc (MFGP) was among stocks biggest losers closing at 10.02-2.67 (-21.04%).
MFGP daily stock chart | stocks | stock market
Stock investing | Stock trading | Most active stocks
Tesla, Inc. (TSLA) was among most active stocks closing at 887.06+107.06 (+13.73%).
TSLA daily stock chart | stocks | stock market
U.S. Sectors & Industries Performance
Information Technology was the best performing sector +2.60%, Utilities was the worst performing sector -1.03%.
Stock earnings
Notable earnings today include Merck & Co Inc (MRK), iRobot Corp (IRBT), General Motors Co (GM), Qualcomm Inc (QCOM).
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