The stocks herein are from the MarketSmith Growth 250. These Top 10 stocks have been ranked by relative performance, exhibiting strength as the indices trade at all-time highs. Aerospace, transportation, energy, metals and mining stocks saw inflows on Monday to start the week. We’ll look for these groups to continue this week.
“The main topic today was TSLA, which closed +12% to 1024. Call options “went off” today, trading 2.4 million contracts & blowing past the Jan 8th record of 1.8. Incredibly, 1.2mm of those contracts were traded in the 10/29 expiration which shows how wild and speculative this market has become.” Brent @ SpotGamma
Futures are green this morning.
“Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest,” said Hertz interim CEO Mark Fields. “The new Hertz is going to lead the way as a mobility company, starting with the largest EV rental fleet in North America and a commitment to grow our EV fleet and provide the best rental and recharging experience for leisure and business customers around the world.”
Tesla and Hertz Team Up
Hertz ordered 100,000 Teslas as part of an ambitious plan to electrify its fleet. According to the company, the first allocation of Tesla’s Model 3 sedans will be available to rent in major US and European markets from early November.
The news sent Tesla stock higher by nearly 13%, breaking out of a 10 month base, on above average volume. In the process, Tesla (TSLA) stock surge to all-time highs to hit the $1 trillion milestone.
Click to enlarge the chart.
Tesla has been beating earnings, at a time when car manufacturers are having difficulties obtaining chips for their vehicles.
2021 earnings are estimated to increase by 157%. (left panel)
Tesla (TSLA) reported Q3 September 2021 earnings of $1.97 per share on revenue of $13.8 billion. The consensus earnings estimate was $1.49 per share on revenue of $13.2 billion. (Oct 20)
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Happy Trading,
Vinny
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