Shares of Tesla (NASDAQ:TSLA) fell on Monday, declining almost as 7.2 %. As of 10:45 a.m. EST, however, the stock was down 4 %.
The growth stock’s decline is very likely largely on account of a bearish day in the entire market. In addition, shares are taking a breather after a major run-up since Christmas.
So what Shares of Tesla have risen every trading day after Christmas, providing the stock much more than a record 11 session winning streak. Even including today’s decline, shares are actually up about 29 % since Christmas. Capturing the stock’s amazing momentum, Tesla’s market capitalization has risen from aproximatelly $670 billion to much more than $800 billion in 2021 alone.
It is natural for shares to push back after such a crazy move higher.
Likewise weighing on the stock is likely a down day in the entire industry. As of this writing, the S&P 500 and Nasdaq Composite are printed 0.5 % along with 0.8 %, respectively.
Now what Investors will get far more meaningful news on Tesla whenever the company reports earnings for its most recent quarter. Tesla typically reports fourth quarter results toward the conclusion of January. Investors will be looking to see how the company’s record vehicle deliveries for the period translated to its financial results. Investors may even look for management to guide for full year 2021 deliveries to be significantly higher than the almost half a million vehicles Tesla delivered in 2020.
Should you invest $1,000 in Tesla, Inc. now?
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