TSLA Stock Surges In Wednesday Pre-Market After Multiple Price Target Hikes

Image source: Photo by Wikimedia Commons

TSLA Stock Surges In Wednesday Pre-Market After Multiple Price Target Hikes🚦: Elon Musk-Led EV Giant Has Made Investors $490 Billion Richer So Far In 2024. Benzinga reports.

🔄 BenzShift: Mercedes-Benz will reshuffle its management board with four new members, the firm said on Wednesday, with changes due to take effect in 2025. Reuters reports.

🎬 SoloStream: Netflix reiterated prior comments that the company has no plans to pursue media mergers and acquisitions next year — even if competitors seem interested in doing so. Yahoo Finance reports.

🚗 TeslaPeak: Tesla sold 21,900 electric vehicles in China in the first week of December, the highest weekly sales in the fourth quarter of 2024, according to Tesla China on Wednesday. Yahoo Finance reports.

🤖 RoboStop: General Motors will no longer fund its Cruise division’s robotaxi development, the company said on Tuesday. CNBC reports.

🚀 QuantumLeap: Google has unveiled a computing chip capable of solving problems in minutes that would take one of today's fastest supercomputers 10 septillion years to complete. Sky News reports.️

🎮 GameBalance: GameStop sales fell from a year ago in the company’s latest quarter, coming in below Wall Street estimates, but the videogame retailer also swung to an unexpected profit. Barron’s reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $LAES: SEALSQ
Total gain: +104.9%

2. $ZONE: CleanCore Solutions
Total gain: +46.87%

3. $SLXN: Silexion Therapeutics
Total gain: +44.48%

4. $RZLV: Rezolve Al
Total gain: +30.56%

5. $FEIM: Frequency Electronics
Total gain: +28.92%

* Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Thursday from 9 AM ET for "Pre-Market Momentum”.

Market Sentiment And Trends

I had the opportunity to share my thoughts on market sentiment during an interview on Fox Business News. The question was, “How long will this bull market last?” My answer: around eight years.

Bull markets are exciting for traders. They offer much easier opportunities for day trading and short-term strategies because of the inherent upward bias in U.S. equity markets. This bias is driven by institutional buyers, like insurance companies and pension funds, who are perpetually adding to their positions.

However, corrections are inevitable, even in a strong bull market. Traders often get caught buying dips at 2%, 5%, or even 10% corrections, only to see the market drop further. That’s why understanding risk management and market cycles is so crucial.

The closing price of the top three market percent gainers trading near or above $3 on December 10.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $CMRX: Chimerix
Total gain: +218.16%
The company announced that, following extensive dialogue with the U.S. Food and Drug Administration (FDA), the company plans to submit a complete New Drug Application seeking accelerated approval for dordaviprone as a treatment for recurrent H3 K27M-mutant diffuse glioma in the United States before year-end. Benzinga reports.

2. $QURE: uniQure
Total gain: +107.81%
The company announced that the company reached agreement with the U.S. Food and Drug Administration (FDA) on key elements of an Accelerated Approval pathway for AMT-130. Benzinga reports.

3. $CRDF: Cardiff Oncology
Total gain: +53.68%
The company announced positive initial data from CRDF-004, a randomized, Phase 2 clinical trial evaluating onvansertib in combination with standard-of-care (SoC) in patients with first-line RAS-mutated metastatic colorectal cancer (mCRC). Benzinga reports.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

ADBE: Adobe
Q4 2024
After Market Close
Estimate: 4.660
Actual: N/A

M: Macy's
Q3 2024
After Market Close
Estimate: 0.030
Actual: N/A

OXM: Oxford Industries
Q3 2024
After Market Close
Estimate: 0.090
Actual: N/A

Time (ET) / Report / Period

8:30 am- Consumer price index - November
8:30 am - CPI year over year
8:30 am - Core CPI - November

“The goal of a successful trader is to make the best trades. Money is secondary."

― Alexander Elder

Sourced in:
Come Into My Trading Room: A Complete Guide to Trading, 2002