This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
Higher Pre-Market on Monday
Shares in the US alternative energy firm, Tesla, are trading almost 5% higher pre-market on Monday.
With traders gearing up for CEO Elon Musk’s speech on Tuesday, the outlook remains bullish.
Musk is due to speak as part of the firm’s “Battery Day.”
During the day, the firm will update investors on the advances within its work on energy storage. Stock watchers are anticipating that the speech will see Musk highlighting significant battery improvements.
Looking at the options market ahead of the event, traders are currently pricing in around a 17% move (two-way volatility) by the end of the week.
Recent Selling Seen
Tesla shares recently saw a heavy bout of selling, with the market plunging by over 30%.
This was both a response to a 5:1 stock split, as well as a reaction to news that the firm had been excluded from a group of companies joining the S&P500 index.
Expectations had been for Tesla to join the index after a year’s worth of consecutive qua...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.