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Oct. 21, 2020, 9:15 a.m. EDT

Tesla's stock in danger of extending longest losing streak in 7 months ahead of earnings

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By Tomi Kilgore

Shares of Tesla Inc. /zigman2/quotes/203558040/composite TSLA +3.35% edged 0.2% lower in premarket trading Wednesday, putting them on track to extend their longest losing streak in seven months ahead of the electric vehicle maker's earnings report. The stock 2.1% on Tuesday, not only the fourth-straight loss, but the fourth-straight loss of at least 2%. The stock has dropped 8.5% during its losing streak, which is the longest since the six-day stretch of losses ended March 18. Tesla is scheduled to report third-quarter results after the closing bell, with analysts surveyed by FactSet expecting, on average, earnings of 57 cents a share and revenue of $8.28 billion. The stock had dropped 5.0% the day after Tesla reported second-quarter results, even though the company beat profit and revenue expectations; in the five days leading up to those results, the stock had gained 3.0%. Tesla's stock has soared more than fivefold (up 404.3%) year to date through Tuesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.16% has gained 6.6%.

/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 574.00
+18.62 +3.35%
Volume: 48.93M
Nov. 25, 2020 4:00p
P/E Ratio
1,147
Dividend Yield
N/A
Market Cap
$544.10 billion
Rev. per Employee
$511,871
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/zigman2/quotes/210599714/realtime
US : S&P US
3,629.65
-5.76 -0.16%
Volume: 2.32B
Nov. 25, 2020 5:33p
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