Diamonds and Dogs

12/22/20

Apple (AAPL) inching toward an all-time high. The world's most valuable company is up 3% on news they are experimenting with making a battery-powered self-driving Icar. That sounds a lot like what Tesla, the world's most valuable auto maker, does for a living.

Diamond for the day typically creates a dog for the day. Tesla (TSLA) is down 3% after falling over 2% yesterday, its first day of trading inside the S&P 500, on news Apple is looking to enter their industry, producing their first electric car as soon as 2024. GM already sells more electric cars in China than Tesla. As the eighth largest US company by markets cap, Telsa may not have great risk reward going forward.

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