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Jan 26, 2021

Joe Biden plans to replace government car fleet with electric vehicles

President Joe Biden signed a new “But American” executive order, which includes plans to replace the government’s fleet of cars and trucks with electric vehicles assembled in the U.S.

 Currently there are not that many all-electric vehicles being assembled in the U.S. Tesla, General Motors and Nissan Motor produce EVs domestically, while Ford Motor and others have announced plans to do so.

While Biden did not specify a time frame for the fleet changeover, he indicated that the switch will support his administration’s plan to create 1 million new jobs in the U.S. auto industry.

Biden also announced plans for stricter use of American-made parts in government-purchased vehicles, which will make it even more difficult to switch over the fleet.  “The content threshold of 50% [isn’t] high enough, and the way we measure the content doesn’t account for U.S. jobs and economic activity,” Biden said. “We’re going to change that as well. The executive action I’m signing today will not only require the companies make more of their components in America, but that the value of those components is contributing to our economy, measured by things like a number of American jobs created and/or supported.”

 

 

Related Ticker: TSLA

TSLA's RSI Oscillator climbs out of oversold territory

The RSI Oscillator for TSLA moved out of oversold territory on February 07, 2024. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 27 similar instances when the indicator left oversold territory. In of the 27 cases the stock moved higher. This puts the odds of a move higher at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Moving Average Convergence Divergence (MACD) for TSLA just turned positive on February 08, 2024. Looking at past instances where TSLA's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where TSLA advanced for three days, in of 346 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 59 cases where TSLA's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

The Momentum Indicator moved below the 0 level on March 04, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on TSLA as a result. In of 74 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The 50-day moving average for TSLA moved below the 200-day moving average on February 01, 2024. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where TSLA declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

TSLA broke above its upper Bollinger Band on February 15, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

The Aroon Indicator for TSLA entered a downward trend on February 14, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 83, placing this stock slightly better than average.

The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. TSLA’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (9.569) is normal, around the industry mean (6.063). P/E Ratio (43.753) is within average values for comparable stocks, (18.268). Projected Growth (PEG Ratio) (2.206) is also within normal values, averaging (5.461). TSLA has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.042). P/S Ratio (6.775) is also within normal values, averaging (36.903).

Notable companies

The most notable companies in this group are Tesla (NASDAQ:TSLA), Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM), NIO Inc. (NYSE:NIO).

Industry description

Automobiles continue to be arguably the most popular form of passenger travel in the U.S., and major automobile makers have revenues and market capitalizations running into multi-billions. In recent years, the industry has been experiencing some path-breaking innovations like electric vehicles and self-driving technology. While there are long-standing companies like General Motors, Ford, and Toyota Motors operating in this space, there are also emerging/rapidly growing players like Tesla – which has had a major role in the growing popularity of the electric vehicle market. With technological advancements taking steam in the auto space, we’ve also witnessed collaborations (or talks of potential partnerships) of carmakers with tech behemoths like Google’s subsidiary, Waymo.

Market Cap

The average market capitalization across the Motor Vehicles Industry is 33.67B. The market cap for tickers in the group ranges from 1.27M to 645.37B. TSLA holds the highest valuation in this group at 645.37B. The lowest valued company is VLCN at 1.27M.

High and low price notable news

The average weekly price growth across all stocks in the Motor Vehicles Industry was -1%. For the same Industry, the average monthly price growth was 1%, and the average quarterly price growth was -14%. RIDEQ experienced the highest price growth at 31%, while ARVLF experienced the biggest fall at -64%.

Volume

The average weekly volume growth across all stocks in the Motor Vehicles Industry was 36%. For the same stocks of the Industry, the average monthly volume growth was 70% and the average quarterly volume growth was 144%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 45
P/E Growth Rating: 73
Price Growth Rating: 57
SMR Rating: 67
Profit Risk Rating: 83
Seasonality Score: 0 (-100 ... +100)
Related Portfolios: TECHNOLOGY ETFs
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TSLADaily Signal changed days agoGain/Loss if shorted
 
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A.I.Advisor
published price charts
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published General Information

General Information

a manufacturer of electric sports cars

Industry MotorVehicles

Profile
Fundamentals
Details
Industry
Motor Vehicles
Address
1 Tesla Road
Phone
+1 512 516-8177
Employees
140473
Web
https://www.tesla.com
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TSLA and

Correlation & Price change

A.I.dvisor indicates that over the last year, TSLA has been loosely correlated with STLA. These tickers have moved in lockstep 46% of the time. This A.I.-generated data suggests there is some statistical probability that if TSLA jumps, then STLA could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To TSLA
1D Price
Change %
TSLA100%
-7.16%
STLA - TSLA
46%
Loosely correlated
+0.08%
LCID - TSLA
43%
Loosely correlated
-3.30%
RIVN - TSLA
42%
Loosely correlated
-3.88%
RACE - TSLA
39%
Loosely correlated
-2.77%
NIO - TSLA
38%
Loosely correlated
-7.79%
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