TSLA Stock Summary and Trading Ideas (Tesla | NASDAQ:TSLA)

Founded in 2003 and based in Palo Alto, California, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles. The company sells solar panels and solar roofs for energy generation plus batteries for stationary storage for residential and commercial properties including utilities. Tesla has multiple vehicles in its fleet, which include luxury and midsize sedans and crossover SUVs. The company also plans to begin selling more affordable sedans and small SUVs, a light truck, a semi truck, and a sports car. Global deliveries in 2023 were a little over 1.8 million vehicles.

Tesla trades on the NASDAQ stock market under the symbol TSLA.

As of April 15, 2024, TSLA stock price declined to $161.48 with 92,396,112 million shares trading.

TSLA has a beta of 1.82, meaning it tends to be more sensitive to market movements. TSLA has a correlation of 0.18 to the broad based SPY ETF.

TSLA has a market cap of $514.28 billion. This is considered a Mega Cap stock.

Last quarter Tesla reported $25 billion in Revenue and $.71 earnings per share. This fell short of revenue expectation by $-423 million and missed earnings estimates by -$.03.

In the last 3 years, TSLA stock traded as high as $414.50 and as low as $101.81.

The top ETF exchange traded funds that TSLA belongs to (by Net Assets): VTI, VOO, QQQ, SPY, VUG.

TSLA has underperformed the market in the last year with a price return of -10.6% while the SPY ETF gained +25.3%. TSLA has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -26.2% and -8.1%, respectively, while the SPY returned +6.2% and -3.6%, respectively.

TSLA support price is $165.94 and resistance is $176.17 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that TSLA stock will trade within this expected range on the day.