[Music] she has a Tesla in Focus as the EV leaders record winning streak tries to turn on it's hitting a little bit of a speed bump here can we hit 14 sessions in a row closing higher Yahoo finances Jared blickery is at the New York Stock Exchange with a deeper dive on Tesla hi Jared hey Diane let's take a look at the Wi-Fi interactive uh and we can see first of all Tesla is no Nvidia market cap a little bit lower than nvidia's only 814 billion Nvidia across that one one trillion Mark only yesterday uh but we do have some notes here from Adam Jonas over at Morgan Stanley and let me just pull those up because it's always been the story about Tesla has been about their moat about their investment in technology their autonomous driving how that database really gives them an edge over their competition because they don't want to be valued like GM or Ford or Volkswagen they want to be valued like a tech company because that gets the stock price higher so here we have on the Wi-Fi interactive Morgan Stanley saying Market wants to believe Tesla is an AI name first an auto company second he suspects money investors may be again looking at ways to justify the valuation beyond the confines of a unit X price automative Hardware model so so he's not expecting material upside earning revisions for Tesla nevertheless if Tesla is an AI story guess what that's a bubble story and so I would just take that to Maine okay Tesla is going to be part of the next bubble now this is very early on in this bubble I think this is probably the first wave have we seen the peak I don't know yet but what I do find encouraging overall is that we have really broadened this rally out and we're seeing some others a lot of other sectors participate I'm going to be doing a deep dive on this uh at the in the 11 A.M hour but just check out what's happening today energy and financials are in the Forefront but let's take a look over the last 10 days consumer discretionary that's retail that is up nine percent followed by materials that's definitely a cyclical play followed by Industrials and then energy and financials all of this together means that the rally is getting a bit healthier and that's very supportive because we were talking about the huge concentration risk in the market only a few days maybe a few weeks ago go and it is still ongoing a little bit but if we do broaden this rally out it just gives it a lot more stability and a lot more legs for the future just want to check in on another sector that's been perking up giving me Interest lately the meme stocks now these guys are kind of late to join the party usually so just a quick word on that sometimes when you see a number of these uh particularly the ogs like GameStop or AMC when they start spiking after not having participated in a rally that is sometimes a red flag so I would be a little bit careful about that stocks being over bought potentially but nevertheless it just points to the fuel in the gas tank in the future is broadening out of the rally guys now Finance his own Jared blickery down there on Wall Street at the floor of the New York Stock Exchange thanks so much Jared
