Tesla stock is set to give up some gains after a meteoric rise of nearly 60% this year
for Tesla, as the electric vehicle maker has a history of staging gravity-defying rallies in a short period of time., the standard deviation of Tesla's average 50-day returns is 37.4 points, making the one standard deviation band of expected returns between -23% to 51%. Over the past 50-days, Tesla stock has surged 34%, which is more than double its long run 50-day return average of 14%.
"Tesla's recent 50-day returns did breach the one standard deviation level. While this has not always been a bad sign , it has been more so recently ," DataTrek co-founder Nicholas Colas said. That means investors should"be careful" with Tesla stock after its rapid rise from about $100 per share at the start of the year to just under $200 today. Especially considering the fact that Tesla has a rabid, and emotional, fan base.
"Tesla is one of those names that investors either love or hate. Tesla has been prone to dramatic upside bursts but also sees times where it disappoints even its most ardent fans. All we know right now is that we've just had one of those large moves higher, and this leaves the stock vulnerable to one of its occasional periods of slack returns," Colas said.
To gauge whether the rally in Tesla can continue, investors will be focused on the EV maker's upcoming earnings report. The company recently reported better-than-expected deliveries for the first-quarter, but
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of America just added this global stock with 60% upside to its top ideas listThe Wall Street bank has a buy rating on the stock, which it calls a 'structural winner.'
Read more »
Marjorie Taylor Greene’s ‘60 Minutes’ Segment Was a Lesson in How Legacy Media Fails'Instead of using media personalities who formed their opinions about politics decades ago, it’s time to pass the torch to a new generation of journalists who are well-sourced and not afraid to ask tough follow-up questions,' mattklewis
Read more »
Rockwall Tom Thumb employee celebrates 60 years on the jobWanda Baldwin, who turns 80 in June, started working at Tom Thumb when she was just 19 years old.
Read more »
'General Hospital' turns 60: A behind-the-scenes lookABC’s “General Hospital” marks its 60th anniversary this week, making it the longest-running scripted show currently in production in the United States.
Read more »
This wireless bluetooth karaoke microphone is 60% off on AmazonSing and save.
Read more »
WATCH: 60 Minutes' hate list against Marjorie Taylor GreeneThis week’s Liberal Media Scream features the acid 60 Minutes interview of Rep. Marjorie Taylor Greene by Lesley Stahl.
Read more »