The NASDAQ 100 Pre-Market Indicator is up 25.69 to 12,777.75. The total Pre-Market volume is currently 20,161,046 shares traded.The following are the most active stocks for the pre-market session: Mereo BioPharma Group plc (MREO) is +0.7901 at $3.00, with 2,692,876 shares traded
Retail traders have ridden 2020's stock market rally better than the professionals, with their most popular picks outperforming market indexes and well-resourced investors such as hedge funds.
Surging U.S. stocks are stretching equity valuations near their highest levels in years, leaving investors to determine whether the rally signals a coming economic rebound or an asset price bubble in the midst of a global pandemic.
Tesla Inc. will be added to the S&P 500 index on Monday, December 21, and its weighting in the index will be determined by its stock price at the close of trading on Friday. Tesla’s current market value is around $610 billion and will float around 80% of that ($490 billion) on the S&P 500. CEO Elon Musk and other insiders will hold the additional 20%.
Tesla (TSLA) is the most valuable company ever to be added to the index and at the current valuation, will make up around 1.5% of the index, making it the largest weighting ever added. Berkshire Hathaway, added in 2010, currently holds that record at 1.4%.
Tesla shares have climbed 58% higher since the announcement of its inclusion in the index and has gained 673% year-to-date. It ended yesterday's session up 5.32% at a record high price of $655.90 per share. (See TSLA stock analysis on TipRanks)
GLJ Research analyst Gordon Johnson reiterated his Sell rating two days ago with a price target of $60 (91% potential downside). Johnson suggested that the meteoric rise in value this year could come to a halt post-listing, citing the loss of government-backed EV credits from rival carmakers and declining market share in China and Europe as possible catalysts.
Consensus among analysts is a Hold based on 8 Buys, 10 Holds and 7 Sells. The average price target of $393.40 implies a potential downside of 40% over the next 12 months.
Retail traders have ridden 2020's stock market rally better than the professionals, with their most popular picks outperforming market indexes and well-resourced investors such as hedge funds.
Tesla's grand entrance into the S&P 500 is expected to be preceded by a huge trade, with an unprecedented $80 billion of the electric car maker's stock changing hands by the end of the session on Friday.
Surging U.S. stocks are stretching equity valuations near their highest levels in years, leaving investors to determine whether the rally signals a coming economic rebound or an asset price bubble in the midst of a global pandemic.
What happenedShares of electric-car maker Tesla (NASDAQ: TSLA) rose sharply on Thursday. The stock ended the trading day up 5.3%, trading at nearly $656.
The rise of artificial intelligence (AI), commonly referred to as the fourth industrial revolution, carries with it significant investment implications. Investors can get in on the game via a myriad of exchange traded funds, but the ARK Industrial Innovation ETF (NYSEArca: ARKQ) is one of the best. ARKQ captures the converging industrial and technology sectors, [...] Read more at ETFtrends.com.
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