Tesla is launching new shares and debt worth more than $2 billion, with Chief Executive Officer Elon Musk pitching-in $10 million as the electric carmaker gave-in to Wall Street pressure to bolster its cash reserves.
The company said in the filing that it would seek to raise $650 million in new shares and $1.35 billion in debt, with underwriters having the option to buy an additional 15% of each offering, potentially raising the proceeds to $2.3 billion.
TSLA in +9.30% Uptrend, advancing for three consecutive days on September 05, 2024
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where TSLA advanced for three days, in of 354 cases, the price rose further within the following month. The odds of a continued upward trend are .
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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 33.66B. The market cap for tickers in the group ranges from 2.49M to 559.85B. TSLA holds the highest valuation in this group at 559.85B. The lowest valued company is EVTGF at 2.49M.
High and low price notable news
The average weekly price growth across all stocks in the Motor Vehicles Industry was -2%. For the same Industry, the average monthly price growth was 6%, and the average quarterly price growth was -11%. ELEK experienced the highest price growth at 90%, while PEV experienced the biggest fall at -18%.
Volume
The average weekly volume growth across all stocks in the Motor Vehicles Industry was 28%. For the same stocks of the Industry, the average monthly volume growth was 13% and the average quarterly volume growth was 20%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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The 'metabolic' category within the biotechnology industry has been witnessing remarkable growth, particularly in companies focused on developing drugs for gastrointestinal and metabolism disorders.
The portable device sector, encompassing companies involved in the production and sale of portable devices, witnessed a notable performance surge of +8.63% over the past week. This surge was led by prominent players including Apple (AAPL), CEVA, and Generac Holdings (GNRC). Despite this recent uptick, however, the sector currently faces a negative outlook, as indicated by various technical indicators and market sentiment analyses.
The Pulp & Paper industry, encompassing companies involved in the production of pulp, paper, and specialty paper products, has witnessed an impressive average stock gain of 11.68% over the last week.
In the whirlwind of the current mergers and acquisitions frenzy, investors are reaping substantial rewards as stocks within the merger industry theme surged by an impressive 20.9% on average over the past month.
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