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via finance.yahoo.comMarkets

Tesla is trading more like SpaceX than a car company

FROM THE WIRE · FINANCE.YAHOO.COM

Tesla still sells cars. Its stock has stopped trading like it. Over the past 20 sessions, the daily moves of Tesla (TSLA) have had a correlation of 0.64 with SpaceX (SPCX), according to Yahoo Finance calculations. Correlation measures how consistently two stocks move in the same…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralTesla's correlation with SpaceX affects how its shares move compared with automakers.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Over the past 20 sessions Tesla's correlation with SpaceX was 0.64 per Yahoo Finance calculations.
  2. 02Tesla's correlation with GM and Ford over the same stretch was negative.
  3. 03Since Musk hinted at a combination, Tesla has gained about 4% while GM and Ford dropped more than 11%.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Tesla, Inc.TSLAStock386.88 USD-0.05%today +3.52%Neutral Ford Motor CompanyFStock11.86 USD-0.96%today -2.43%Neutral Space Exploration Technologies Corp.SPCXStock158.65 USD-1.33%today +7.35%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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