CarGurus, Tesla, Merck Among the Top 10 MarketSmith Growth 250 Stocks

• Tesla shares rise 2.5% on this Veteran’s Day

• Musk transactions were disclosed prior to Twitter poll

• Tesla fans shrug off the news

The stocks herein are from the MarketSmith Growth 250. These Top 10 stocks have been ranked by relative performance, exhibiting strength as the indices pulled back for a second day, fading from all-time highs in the Wednesday session. Consumer discretionary was represented with Tesla climbing 4.5%, while internet centric automotive site, Cargurus tacked on 2.0 points closing up 5.6% to $38.01. Merck, a favorite pharmaceutical stock, bounced for a third day, rising 1.6% to $84.01.

Tesla sales and earnings beat estimates in its October 20 report by $1.00 or 145%. The trend is accelerating, +162% in 2021.

Elon Musk fired up a debate this week, as he noted he would sell $5 billion of Tesla stock shortly after discussions on Twitter relative to tax implications. According to regulatory disclosures, Musk would sell more than 4.5 million shares.

This marks Elon’s first sale of Tesla stock since 2006.

Tesla (TSLA) rallied over 3% premarket Thursday, following Wednesday’s buying activity. Nvidia (NVDA) bounced 3.4%, leading a stock rally among semiconductor stocks as it rallied 11-days straight  The Semiconductor ETF (SMH) is currently up 1.34% in early trading.

MarketSmith Stocks Showing Relative Strength

Sales and earnings are climbing for CARG, SHYF , and MRK despite weakness in the major indices. All three closed higher, showing relative strength as many stocks sold off on Wednesday. Watch for more inflows as these industry groups continue to work. Click to enlarge charts.

MRK

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