For millions of traders and CNBC addicts, the word \"Tesla\" doesn't mean cars it means TSLA, one of the wildest large-cap stocks the world has ever seen.<\/p>\n
Driving the news: On Monday alone, Tesla opened $114 higher than its previous close, then gained another $136 within 15 minutes, then dropped by $324 before the market closed. (Even during the drop there was a half-hour period where the stock rose another $100.)<\/p>\n
Large-caps aren't supposed to be this volatile. Tesla's Monday peak was 89% higher than the low point two weeks earlier on no real news.<\/p>\n
By the numbers: Tesla stock is popular among day-traders who don't like to hold any kind of position overnight. Partly as a result, it opened higher than its previous close every day this month up to yesterday.<\/p>\n
Don't look to Wall Street analysts for clarity. Their price targets range from $87 (Gordon Johnson of GLJ Research) to $2,322 (Alex Potter of Piper Sandler).<\/p>\n
The bottom line: Cars and carmakers have had mythic status for decades. But for the time being it often seems that there's only one game in town.<\/p>\n
Go deeper: Breaking down the Tesla obsession<\/p>\n
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More here: <\/p>\n
Tesla and TSLA: Electric vehicle to gambling vehicle - Axios<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" For millions of traders and CNBC addicts, the word \"Tesla\" doesn't mean cars it means TSLA, one of the wildest large-cap stocks the world has ever seen. Driving the news: On Monday alone, Tesla opened $114 higher than its previous close, then gained another $136 within 15 minutes, then dropped by $324 before the market closed. (Even during the drop there was a half-hour period where the stock rose another $100.) Large-caps aren't supposed to be this volatile. Continue reading