On weeks when it is up, it tends to surpass the market, and on weeks when it is down, it tends to lag behind.
This week, it was down. From the close of trading Tuesday, May 27, 2014, to the close of trading Monday, June 2, TSLA dropped 3.24 percent.
By contrast, during the same time period, the Dow rose 0.41 percent, the S&P 500 rose 0.68 percent, and Nasdaq ended up unchanged.
Last week, Standard & Poor’s gave Tesla a “junk” debt rating, but some observers didn’t think that was such a bad thing, in part because low debt ratings are common in the auto industry, in part because many TSLA investors have their eye on the long-term potential of the company, and in part because of hostility to S&P itself.
In better news for Tesla, the AAA’s annual green car guide gave the Tesla S its top score, calling it “the fastest green car” they’ve ever tested.
SpaceX — Tesla CEO Elon Musk’s other company — was in the news this week, with a Tesla-related angle.
Musk showed off a new spaceship, which he said could carry seven astronauts and would be ready to go by 2016.
The interior, said to be inspired by Musk’s love of science fiction, has four folding touchscreens, which were adapted from the screens now being used in the Tesla Model S car.
Yesterday, Investor’s Business Daily wrote that a report by market research firm IDTechEx predicted that the market for electric and hybrid vehicles is about to undergo explosive growth, with sales increasing three-fold in the next decade, reaching $179 billion worldwide in 10 years.
The IDTechEx report also singled out Tesla, saying that Tesla’s planned gigafactory could enable it to “dwarf all” of the other electric car makers “put together.”