Oil And Gold: A Tough Day For Both, Tesla (TSLA) Stock Also Dropped On Its First Day – Invest Chronicle
Home  »  Equity News   »  Oil And Gold: A Tough Day For Both, Tesla (TSLA) S...

Oil And Gold: A Tough Day For Both, Tesla (TSLA) Stock Also Dropped On Its First Day

On Monday, the oil sector remained under pressure from the U.S. Congress still not coming to an agreement on the stimulus plan as well as suffering the impact of new coronavirus wave in the United Kingdom which raised questions about the economic recovery in all parts of the world especially in Europe. In the January Nymex contract, U.S. light crude oil (WTI) dropped -2.77 percent to $47.74 a barrel. In February, the Brent contract for delivery lost -2.58 percent to $50.91 per barrel. On the other end, with strengthening Dollar, Gold for the February Comex futures contract, dropped -0.34 percent to $1,879.20.

The shares of the electric vehicle maker Tesla Inc (TSLA) suffered in the S&P 500 on their first day. Company’s stock dropped -6.49 percent to $649.86.  Since the start of the year, the stock’s value has multiplied by more than 6 times so a downturn was also to put into perspective. As the stock has gained around 70 percent since mid-November since the announcement of its arrival in the S&P 500, an integration that was already been widely expected.

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!


Tesla is by far the largest company to enter the flagship index of Wall Street, with a market capitalization around $660 billion. The entity constitutes approximately 1 percent of the total weight of the index. The Californian firm is currently the world’s 9th largest market capitalization and is steadily getting closer to Facebook which has a market capitalization of $787 billion. The electric car pioneer is also entering the S&P 100, replacing Occidental Petroleum.

Tesla is also the most traded stock on Wall Street, in a sign of the excitement surrounding Elon Musk’s company, with an average of $18 billion of shares traded in each session (over the past 12 months), compared to Apple’s average of $14 billion, second, according to ‘Refinitiv’ results. It remains to be seen if Tesla will continue its remarkable rise in 2021, when the stock is too costly by its boss’s own admission.

Leave a Comment

Your email address will not be published. Required fields are marked *

Get The Best Stocks To Trade Every Day!

Join now to get the Newsheater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.


Download free eBook for