Tesla Inc shares are trading marginally higher as investors weigh a mix of bullish institutional data against signs of weakening consumer demand in key European markets.
What to Know
Providing a tailwind for the stock, data from second-quarter filings revealed that Tesla was a top buy among hedge funds, indicating strong institutional conviction. This confidence was supported by positive sales news from Norway, where the company recorded a 24% year-to-date sales surge, bucking a downward trend across the continent.
CEO Elon Musk’s Bold Warning
CEO Elon Musk also made headlines by issuing a bold warning to short sellers that they would be “obliterated”. Additionally, reports surfaced of a potential software visualization upgrade using Epic Games’ Unreal Engine, reinforcing Tesla’s image as a technology leader.
Concerns Over European Demand
However, concerns over European demand persist. The company is reportedly slashing monthly lease prices by nearly half in the U.K. to move inventory amid stiff competition and falling sales, which dipped over 60% in July. Similar double-digit declines have been recorded in markets like France, Denmark, and Sweden.
Investor Sentiment
This complex backdrop of strong institutional buying and future promise, contrasted with immediate sales pressures abroad, appears to have left investors cautiously optimistic, contributing to the stock’s modest gains.
Stock Rankings
According to stock rankings, Tesla exhibits the classic profile of a high-growth, high-momentum stock that trades at a premium price. The data reveals:
- Exceptional Momentum with a score of 80.04, indicating very strong recent price performance
- A robust Growth score of 73.59, reflecting the company’s rapid expansion
- A Quality score of 62.53, suggesting solid underlying business fundamentals
- A low Value score of 9.93, signaling that the stock is considered very expensive by traditional valuation metrics
Price Action
Tesla shares closed up 1.39% at $335.16 on Monday. The stock has a 52-week high of $488.54 and a 52-week low of $202.59.
How to Buy TSLA Stock
Buying shares is typically done through a brokerage account. You can buy fractional shares, which allows you to own portions of stock without buying an entire share. For example, $100 would buy you 0.3 shares of Tesla stock.
If you’re looking to bet against a company, the process is more complex. You’ll need access to an options trading platform or a broker who will allow you to “go short” a share of stock. Alternatively, you can buy a put option or sell a call option at a strike price above where shares are currently trading.
Note: Investing in the stock market involves risks and uncertainties. It’s essential to do your own research and consider your own financial situation before making any investment decisions.