118.26 +0.47 (0.40%)
After hours: 7:00PM EDT
|Bid||0.00 x 900|
|Ask||0.00 x 3000|
|Day's Range||117.30 - 117.96|
|52 Week Range||89.06 - 117.96|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.14%|
Tesla stock (TSLA) continues to witness high volatility as the third quarter comes to an end. On September 19, the stock increased 4.9% after falling 3.4% in the previous session. The company has seen 12.8% value erosion in the third quarter as of September 19. In comparison, other auto stocks (XLY) including General Motors (GM), Ford (F), and Fiat Chrysler (FCAU) have lost ~9.3%, 11.7%, and 4.7% in the third quarter, respectively.
In week 37, the week ending September 14, Harley-Davidson stock (HOG) fell 0.2% despite the broader market and auto stocks’ (XLY) recovery. Last week, the S&P 500 rose 1.2%, while automakers like General Motors (GM), Ford (F), and Fiat Chrysler (FCAU) gained 2.1%, 1.9%, and 5.7%, respectively. As of September 17, Harley-Davidson stock was hovering in the negative territory on a year-to-date basis with 12.8% losses.
In the week ending September 14, Ferrari (RACE) stock turned positive after posting losses the previous week. Last week, Ferrari rose 4.2% after losing 3.2% the previous week. In August, Ferrari stock continued to trade on a weak note for the second consecutive month. As of September 17, the stock has risen 9.9% in the past month.
The stock has been on a roller coaster ride in 2018. The fluctuations have been due to investors’ close attention to Tesla Model 3 production updates and CEO Elon Musk’s bid to privatize the company. In the third quarter, Tesla has fallen 14.0% as of September 17.
Is Tesla Stock 'No Longer Investable'? In the previous article, we looked at analysts’ latest recommendations on Tesla (TSLA) stock. Analysts remain divided on Tesla in September after the majority of them suggested “buys” on the stock after its second-quarter results release in August.
Last week, Tesla was the top gainer among auto stocks with 12.1% gains. However, the stock turned negative today and erased most of these gains after a Bloomberg report suggested that TSLA is “under investigation by the Justice Department over public statements made by the company and Chief Executive Officer Elon Musk.” The report cited “two people familiar with the matter.”
Last week, the broader market largely traded on a slightly negative note due to uncertainties related to the global trade war. In the second week of September, the S&P 500 benchmark (SPY) largely remained mixed and rose 1.2%. Uncertainties about the trade war and tariffs could be keeping investors confused. In the last few months, trade tensions between the US and other continues like China, Canada, and European countries have haunted auto investors. Last week, most of the auto stocks outperformed the broader market.
According to the latest data compiled by Thomson Reuters, nine of the 27 analysts covering Tesla (TSLA), or ~33%, have given it “buy” recommendations, another nine have recommended “holds,” and the remaining nine expect it to underperform and have recommended “sells.”
As of September 12, Tesla’s forward EV-to-EBITDA (enterprise value-to-EBITDA) multiple was 22.1x. It was calculated on the company’s estimated EBITDA for the next 12 months.
Is Tesla Stock 'No Longer Investable'? In the second quarter, Tesla (TSLA) managed to prove many of its critics wrong after it exceeded its second-quarter goal for its Model 3 production rate. While analysts remain divided on Tesla, recently, a long time bullish analyst on Tesla downgraded the stock.
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