An award or praise (on someone or something) in recognition of an achievement.
I have long since written about how analysts and major Wall Street players have no idea how to accurately appraise Tesla, as they have never seen a company as violently disruptive and unpredictable as Tesla before. It was not until very recently, arguably in the past three months, that analysts have begun to take Tesla seriously as a real high-cap threat to automotive market share.
As of 10:50 EST, Tesla ($TSLA) stock traded at $722.62 per share, up $72.05 and 11.07% from the morning's open; as compared to the S&P 500 Index, which weighed in at $3,256.98, up 0.98% from the morning's open.
n fact, the insane bull run that Tesla has seen in the past few months has done more than just make profit for investors. The bull run has opened up the door for a whole new world of trading for Tesla. With Tesla more than doubling in stock value in the past three months alone, it would be impossible for any self-respecting analyst to not notice and reevaluate their opinions and positions.
With the newfound publicity, Tesla's average traded volume per day has risen by 900%, from about 2 million shares per day over the summer, to nearly 20 million. This is also a huge boon to Tesla and its shareholders, as the stock and options are now much more liquid and volatility has calmed down a great deal.
Today, investors, analysts, and hedge fund managers alike stood in awe at Tesla's monstrous gains. Despite only trading up 2.3% in premarket hours, Tesla quickly shot up more than $80 per share in the hour following the markets' open. This prompted the ever-present question: What is going on to make Tesla gain so fast and so much?
This question is loaded, especially today. There are a million things going on at any given time that affect Tesla's stock price for the better and the worse. This is partially just due to the nature of the company, the market, and the CEO. Tesla is polarizing, and Tesla is fast-paced. These two qualities combined have made for a particularly exciting ride over the past few months.
Most of the headline news for Tesla at the moment is representative of long-term growth. Tesla has a new factory being built, the Model Y production ramp has recently started, and many projects' timelines have been moved up. This is all great, but none of it quite justifies an 11% gain in a single day.
That's the most troubling thing for analysts about Tesla. Tesla does not follow other companies' tradition or precedence. Tesla always has, and likely always blaze its own trail. As a disruptor in the industry, it has lie dormant for several years, and only recently are investors beginning to truly understand the company's potential.
This is where the title of this article comes from. Tesla gained more today than it did on the day of the Q4 earnings report and 2019 recap. Tesla's accolades, awards, and prestige is only growing. No other high-cap company could justify a $15 billion market cap increase without having salient and dramatic reasons to do so. Tesla, however, is showing a pattern of success, consistency, and delivery.