shares of Tesla those Rising um it's up almost seven percent just at seven percent on the nose right now it has its site set on ending a six day losing streak this comes as beard analyst Ben Carlo highlighted some uh positive developments ahead of the EV maker in the second half of the year that includes the launch of the Cyber truck we've been talking about that continued growth in the energy business and expanding into new markets so it's definitely been uh helpful for the share price today called it's the best ideas list right Jerry yeah well let's take a let's take a look at the Wi-Fi interactive I got some charting to do on this stock first of all this is this is a heat map of the entire sector today so EVS are doing well a couple like Volkswagen not uh not performing well but let's take a look at over the last month you can see they have been struggling most of these names have been struggling with the exception of the Chinese automakers and Toyota but we're talking about Tesla let's graph let's chart Tesla here this is a stock that has uh come off of its highs and in fact I was doing analysis on Mega caps Friday because I had nothing else to do and uh there I was looking at recent drawdowns from 52-week Highs but Tesla was one of those companies that not they didn't top last year or 2020 it was like 2020 2021 there that we're seeing those highs and so they are significantly still off those Highs but they are in an uptrend right now they're at the bottom edge of this little Channel That's forming um and if the hey if growth stocks can can succeed today if they can surge today with surging interest rates I would say well perfect environment for Tesla to surge as well we got to move on to meme stock Central because AMC shares uh they are syncing today as investors feared further dilution of their common stock AMC stock conversion May proceed this week after Delaware Supreme Court decided not to stand in the way of a settlement approved earlier this month by Delaware's Court of Chancery which cleared a path for AMC to convert its preferred Equity units known as Apes into common shares now the company has said that the AP units would cease trading on August 25th and I just want to go back to the uh one more time to just show what the two different shares have done today uh in the cyan those ape units are down a little bit and guess what's down a lot more the AMC the common stuff it's going to dilute the shares that are out there usually these two move in opposite directions but I'm not attaching any fundamental biases to any kind of analysis regarding this company anymore this is just the way it's happening yeah no and it's an unfortunate meme play for those who may have be holding the bag if you will well that's kind of the nature of meme plays it seems but we don't know the final ending there so I'm not going to say that has a dire outcome this is okay that's fair we don't know the ending yet
