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We recently compiled a list of the 10 Hottest Large-Cap Stocks Right Now. In this article, we are going to take a look at where Tesla, Inc. (NASDAQ:TSLA) stands against the other large-cap stocks.
This article will analyze several prominent large-cap stocks that are currently exerting significant influence on market dynamics. These stocks are currently considered "hot" because their stock prices are relatively more volatile, and they draw the attention of a large pool of investors. These stocks are the most talked about, with high trading volumes, large price actions and overall hot atmosphere surrounding them currently.
What to watch when it comes to Large-Cap Stocks?
Large-Cap Stocks are usually household names, stocks which even the non-investing population has heard of. They are considered safer investments than small-cap stocks, so they will naturally bring a larger volume when it comes to trading.
Price change over the past week is the first parameter we will analyze when talking about the hottest Large-Cap Stocks. Another parameter which we will analyze is the volume of shares traded over the course of the past trading week. Even with Large-Caps, when investors and traders see large changes in volume, they could get spooked or could see an opportunity to jump in and aboard the train.
The first days of the new year, as well as the last days of the year gone, are usually very volatile. There are a lot of speculation and tax-loss harvesting going on, which affects the broader market dynamics. On the other hand, investors who took profit in 2024 are looking for new investments to start their new investment year strong. The New Year's Day holiday also affects the trading continuity, further deepening the volatility. To see which firms kicked this year off in the red, you can check out the following article.
The Large-Caps listed here are all market titans, with market caps over $200 billion dollars.
25 Most In Demand Cars Heading into 2024
Tesla, Inc. (NASDAQ:TSLA)
Return: -8.69%
Tesla shares started this week at $428.29. Tesla bulls thought that, after a pretty rough week they had before this one, a turnaround may be coming. However, Monday proved them wrong. The volume of 64.82 million shares traded wasn't enough to keep up the positive momentum. In the end, TSLA ended the week 8.69% in red, compared to previous week.
The biggest news this week was the Tesla Cybertruck explosion, which occurred in Las Vegas on Wednesday morning. Even though the explosion wasn't the result of a mechanical issue, it was reflected in TSLA's price action, since its shares fell to $374 per share on Thursday, which was the lowest point since the start of December.