Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United States
  4. Nasdaq
  5. Tesla, Inc.
  6. News
  7. Summary
    TSLA   US88160R1014

TESLA, INC.

(TSLA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Tesla : Dogecoin cryptocurrency slumps after hashtag-fueled surge to record high

04/20/2021 | 11:20pm EDT
Cryptocurrency representations are seen in front of the Dogecoin logo in this illustration

LONDON/NEW YORK (Reuters) - Meme-based cryptocurrency Dogecoin fell on Tuesday after hitting an all-time high in a wild session that saw supporters of the token once considered a parody use hashtags to fuel a rally until it lost steam.

Dogecoin ultimately fell 15.4% to US$0.33, but during the session when it hit a record peak, its market capitalization soared to more than $50 billion. After the slump, its market cap dropped roughly $45 billion, according to coinmarketcap.com.

By comparison, the wildly popular bitcoin has a market cap of more than $1 trillion.

Dogecoin fans used the hashtags #DogeDay and #DogeDay420 to post memes, messages and videos on Twitter, Reddit and TikTok, referring to the informal April 20 holiday to celebrate cannabis which is marked by smoke-ins and street parties.

"GIMME THAT DOGECOIN LAMBO!!! #DogeDay" one tweeted, referring to the Lamborghini sports car popular in crypto culture.

An 8,000% price increase this year has seen Dogecoin, launched as a satirical critique of 2013's cryptocurrency frenzy, overtake more widely-used cryptocurrencies like Litecoin and briefly Tether, to become the sixth-largest coin.

"The current retail fervor probably won't completely give up on Dogecoin," said Edward Moya, senior market analyst at online FX trading platform OANDA, but he did anticipate the "sell the event reaction" for the cryptocurrency.

Dogecoin's logo features a Shiba Inu dog at the center of the meme. It can be traded on crypto exchanges and more popular mainstream trading apps.

"The Doge rally represents an interesting convergence," said Diana Biggs, CEO of crypto start-up Valour, after Dogecoin's price soared by more than five-fold in the last week to a record $0.42, according to CoinMarketCap.

"A meme coin created as a joke for early crypto adopters whose community found that kind of thing to be fun, with now a new generation of retail investors for whom memes are a native language," Biggs added.

ONLINE TRADING

Dogecoin's rise came during a surge in online trading of stocks and crypto by retail investors, stuck at home with extra cash because of the COVID-19 pandemic. The coin has not seen much growth in usage for payments or in commerce.

A boom in usage of online trading apps like Robinhood also fueled the social-media driven rally in GameStop Corp stock this year, which pitted retail investors against hedge funds.

"It's an extension of the same phenomenon that has led Tesla stock to be valued well beyond fundamentals and more recently to the GME (GameStop) short squeeze," said Ajit Tripathi, head of institutional business at decentralized finance startup Aave.

Like other cryptocurrencies, Dogecoin's price is heavily influenced by social media users including Tesla chief Elon Musk, whose tweets on the cryptocurrency in February sent its price soaring over 60%.

Dogecoin currently has a 16.7% implied probability to be worth more than $1 at the end of 2021, according to betting aggregators US-Bookies.com, a significant improvement from earlier this month, when it had just a 2.9% chance to do so.

(Reporting by Tom Wilson and Anna Irrera in London; Additional reporting by Gertrude Chavez-Dreyfuss in New York; Editing by Alexander Smith and David Gregorio)

By Anna Irrera, Tom Wilson and Gertrude Chavez-Dreyfuss


© Reuters 2021
All news about TESLA, INC.
05/07TESLA  : D&O Insurance Implications From Tesla's Stock Drop Suit
AQ
05/07SOCIAL BUZZ : Wallstreetbets Stocks Tilray, AMC, Nokia Gain; Rocket Falls for Se..
MT
05/07STREET COLOR : Tesla and Stallantis-Owned Comau Robotics Set Up New Automation a..
MT
05/07Dollar broadly weaker after U.S. jobs data disappoint
RE
05/07COMCAST  : NL' host Elon Musk takes a Saturday off from Tesla's troubles
RE
05/07TESLA  : Self-Driving Technology May Not be Ready by End of 2021
MT
05/07Top union sets sights on works council at Tesla's German gigafactory
RE
05/07SOCIAL BUZZ : Gamestop Edges Lower, Rocket Companies Climbs Again
MT
05/07Lithium producers grow bullish as EV revolution turbocharges demand
RE
05/07TESLA  : tells regulator that full self-driving cars may not be achieved by year..
RE
More news
Financials (USD)
Sales 2021 49 350 M - -
Net income 2021 3 331 M - -
Net cash 2021 9 077 M - -
P/E ratio 2021 218x
Yield 2021 -
Capitalization 639 B 639 B -
EV / Sales 2021 12,8x
EV / Sales 2022 9,36x
Nbr of Employees 70 757
Free-Float 80,0%
Chart TESLA, INC.
Duration : Period :
Tesla, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TESLA, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 34
Average target price 673,13 $
Last Close Price 672,37 $
Spread / Highest target 78,5%
Spread / Average Target 0,11%
Spread / Lowest Target -77,7%
EPS Revisions
Managers and Directors
NameTitle
Elon Reeve Musk Technoking of Tesla
Zachary J. Kirkhorn Master of Coin
Robyn M. Denholm Chairman
Ira M. Ehrenpreis Independent Director
Antonio J. Gracias Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
TESLA, INC.-4.72%639 208
NIO INC.-24.21%60 101
XPENG INC.-37.68%20 601
LI AUTO INC.-37.60%16 275
NIKOLA CORPORATION-24.64%3 974
FISKER INC.-22.87%3 327