I’ve been meaning to take a look at Tesla (NASDAQ:TSLA) for a while now and am pleased to have done today, not only because of the incredible recovery in the stock price since the beginning of this year since when it has more than doubled, having sunk to a low of $101.81 at the turn of the year, but also because the rally seems to have stalled.
One reason for its surge higher since January is that since the beginning of the year, individual investors have been buying up stocks at the fastest pace on record.
An overage of $1.5bn each day has been channeled into stocks, the highest amount ever recorded, as confirmed by research firm Vanda Track. This is against the more bearish sentiment amongst the institutions. And you won’t be surprised to learn that Tesla is the favorite amongst this group, with the stock attracting almost $10bn of inflows, and if we look at the chart, we can see the volume bars reflecting this heavy buying.
Read more here: https://www.investing.com/analysis/tesla-has-the-rally-run-its-course-200635443
