Tesla Has Averaged a 1% Gain Every Week

Tesla (TSLA) has gone up 1% per week, on average, for nearly 10 years.

Here’s how I got that. Tesla got to a high of $1154.40 today. On April 12, 2012, TSLA closed at $7.32. That’s a gain of 157.7-fold in exactly 500 weeks. That’s an average of 1.017% every week for 500 weeks. Not bad.

Middleby (MIDD) finally said when it will report its earnings. Their Q3 report will come out next Tuesday, November 9, before the market opens.

On our Buy List, we’ve had new highs today from Intercontinental Exchange (ICE), Moody’s (MCO), Thermo Fisher Scientific (TMO) and Zoetis (ZTS). Also, Abbott Labs (ABT) and FactSet (FDS) are very close to new highs.

I see that shares of Miller Industries (MLR) are creeping higher. The stock is up for the sixth day in a row. On October 5, MLR got to a low of $33.33. It’s up nearly 10% since then. The earnings report is due out on Wednesday.

The ISM Manufacturing Index came out this morning. It dropped from 61.1 to 60.8. That’s still a very good number. Recessions usually don’t happen until the ISM reaches the mid-40s.

The economy is struggling with shortages across industries as global supply chains remain clogged. Supply constraints, which were worsened by a wave of Covid-19 infections driven by the delta variant over summer, helped to restrain economic growth to its slowest pace in over a year in the third quarter.

The motor vehicle industry has been the hardest hit. Outside the shutdown in spring 2020, which severely depressed output, the third quarter was the worst period for motor vehicle production since early 2009. Economists and businesses expect supply chains could remain tight through 2022.

The ISM survey’s measure of supplier deliveries increased to a reading of 75.6 last month from 73.4 in September. A reading above 50% indicates slower deliveries. Longer waits for materials meant high inflation at the factory gate persisted. The survey’s measure of prices paid by manufacturers accelerated to 85.7 from a reading of 81.2 in September.

Posted by on November 1st, 2021 at 12:19 pm


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