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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Tesla, Inc.    TSLA


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Tesla's upcoming S&P 500 debut fuels 'crazy' trading volume

11/25/2020 | 03:15pm EST
FILE PHOTO: The company logo is pictured on a Tesla Model X electric car in Berlin

(Reuters) - If you traded a stock in the past week, there's a fair chance it was Tesla.

Shares in the electric car maker led by CEO Elon Musk rose almost 3% on Wednesday and have now surged 40% since Nov. 16, when it was announced Tesla would join the S&P 500 in December. Investors rushed to buy shares ahead of index funds that will be forced to acquire over $50 billion of its shares.

One of Wall Street's most loved - and hated - stocks, Tesla was already the U.S. stock market's most traded companies by average daily value, but trading has surged in recent sessions, along with Tesla's stock price.

"It's been crazy. Since Tesla's (announced) inclusion in the S&P, you've had a lot of managers out there that didn't own enough of it having to buy more," said Sahak Manuelian, managing director of trading at Wedbush Securities, in Los Angeles.

Retail investors using apps like Robinhood are also responsible for much of the recent volume spike, Manuelian added.

GRAPHIC: Tesla is Wall Street's most traded stock, https://graphics.reuters.com/USA-STOCKS/TESLA/xegpbqwawvq/chart.png

Traders bought and sold an average of nearly $26 billion of Tesla shares per session over the five days ending on Tuesday, accounting for almost 8% of all stock traded on U.S. exchanges, according to Refinitiv data. That is more than the combined value of trades in Amazon.com Inc and Apple Inc over the same period.

At about halfway through Wednesday's session, traders had exchanged $20 billion worth of Tesla shares, according to Refinitiv.

Up over 400% in 2020, Tesla has become by far the world's most valuable automaker, despite production that is a fraction of Toyota Motor Corp, Volkswagen or General Motors Co.

Over the past year, Tesla has averaged over $16 billion a day in trades, followed by Apple, at about $14 billion, according to Refinitiv data.

Trading in Chinese electric vehicle maker NIO Inc has also surged in recent weeks, with its shares nearly doubling in November.

Including NIO, trading of stocks in the nascent electric vehicle industry reached an average of $38 billion a day in the past five sessions, accounting for 12% of all trading on U.S. exchanges. By comparison, traders in the same period bought and sold each day about $8 billion worth of oil and gas stocks including Exxon Mobil and Chevron.

(Reporting by Noel Randewich; Editing by Lisa Shumaker)

By Noel Randewich

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 1.61% 139.07 Delayed Quote.3.15%
CHEVRON CORPORATION -0.30% 91.73 Delayed Quote.8.62%
DJ INDUSTRIAL -0.57% 30996.98 Delayed Quote.1.86%
EXXON MOBIL CORPORATION -1.41% 47.43 Delayed Quote.15.07%
GENERAL MOTORS COMPANY 0.58% 55.4 Delayed Quote.33.05%
LONDON BRENT OIL -1.92% 55.07 Delayed Quote.8.61%
NASDAQ 100 -0.29% 13366.396971 Delayed Quote.3.71%
NASDAQ COMP. 0.09% 13543.061633 Delayed Quote.4.99%
NIO LIMITED 6.19% 61.95 Delayed Quote.27.10%
S&P 500 -0.30% 3841.47 Delayed Quote.2.27%
TESLA, INC. 0.20% 846.64 Delayed Quote.19.98%
TOYOTA INDUSTRIES CORPORATION 0.47% 8540 End-of-day quote.4.27%
TOYOTA MOTOR CORPORATION -1.08% 7660 End-of-day quote.-3.73%
VOLKSWAGEN AG 1.88% 165.08 Delayed Quote.8.31%
WTI -1.77% 52.063 Delayed Quote.10.00%
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Financials (USD)
Sales 2020 30 946 M - -
Net income 2020 1 323 M - -
Net cash 2020 5 301 M - -
P/E ratio 2020 634x
Yield 2020 -
Capitalization 803 B 803 B -
EV / Sales 2020 25,8x
EV / Sales 2021 17,5x
Nbr of Employees 48 016
Free-Float 80,0%
Duration : Period :
Tesla, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TESLA, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 37
Average target price 525,20 $
Last Close Price 846,64 $
Spread / Highest target 22,4%
Spread / Average Target -38,0%
Spread / Lowest Target -85,2%
EPS Revisions
Managers and Directors
Elon Reeve Musk Chief Executive Officer & Director
Robyn M. Denholm Chairman
Zachary Kirkhorn Chief Financial Officer
Kimbal Musk Director
Ira M. Ehrenpreis Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
TESLA, INC.19.98%802 531
VOLKSWAGEN AG8.31%105 915
NIO LIMITED27.10%96 806