Tesla (TSLA) Stock Dips on Autopilot Investigation

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The TSLA stock price fluctuated between $673.72 and $692.13 throughout the trading session with the volume trading being 15M shares, which represented a negative variation when compared to the three months average volume of 22M shares.

The share price of Tesla, Inc. (NasdaqGS:TSLA) ran up 1.01% to close Friday’s market session at $680.26, higher as compared to yesterday’s close which brings the market valuation of the company to $673.47B.

The 52-week high for the Tesla, Inc.’s shares is $900.40. That puts it -24.45% from that peak but still a 67.18% gain since the share price dropped to a 52-week low of $329.88, while the S&P 500’s share price change was of 28.40%.

The company currently has a 358.60 P/E ratio and a price target of $713.15.

What does the trading volume tell us about the TSLA stock?

During the last trading session, Tesla, Inc. (NasdaqGS:TSLA) has seen growth in its daily volume. The daily volume was of 22M, while in the last 10 days the average was 17.86M and last three months – 22.04M.

The increasing interest in the TSLA stock from the investors is helping to drive the stock price up.

Shrinking short interest

The Tesla, Inc.’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 29.91M shares being shorted which translates into 1.41 of a short ratio for TSLA, while in the previous month the shorted shares were 34.09M.

Tesla, Inc.’s (NasdaqGS:TSLA) financials

With a market cap of 673.47B, Tesla, Inc. holds a total cash of $16.23B that translates into $16.39 per share, while the total debt is of $11.17B.

The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 98.10%. The current revenue is of $41.86B that is $43.81 per share.

This is a great sign for a bright future.