12 Days of Trading – Day 10 of 12: I’m always touched by your presence, Elon

12 Days of Trading - Day 10

12 Days of Trading – Day 10 of 12: I’m always touched by your presence, Elon

There may be several arguments about inclusion rules and timing and certainly when a stock with a Price /Earnings ratio of 1260 joins an index where the average P/E is 36 it is likely to cause waves rather than ripples.

We knew it was going to be big…but this exceeded expectations. 

For a stock that trades huge volumes anyway the Tesla volumes on Friday were staggering.

We can see on our first chart that $200bn traded on that one day. To put that in context, the biggest day in Europe since MiFIDII across ALL stocks was €132bn.

 

In the second chart we show a daily comparison (last Thursday vs Friday) of the Tesla turnover by the trade category. In the closing auction alone, Tesla traded $48bn versus $1bn the previous day.

To put this in perspective, we recently highlighted the record European single stock closing volume –  the two listings of Unilever consolidated resulting in a combined closing turnover of €8.8bn.

Can some presence just be too big to be acceptable?

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