TSLA, RL, and FLT stocks are making notable moves on the charts today
It's been an up-and-down day for the Dow, as U.S. stocks search for direction. Among specific equities on the move this afternoon are electric automaker Tesla Inc (NASDAQ:TSLA), retailer Ralph Lauren stock, and specialized payments provider FleetCor Technologies, Inc. (NYSE:FLT). Here's a quick look at what's moving shares of TSLA, RL stock, and FLT.
Stock Surge Puts Tesla in the Running for Most Valuable U.S. Automaker
TSLA stock is extending Monday's surge, last seen 0.8% higher at $300.96, earlier touching a record high of $304. The move has Tesla Inc closing in on General Motors Company (NYSE:GM) to become the most valuable automaker in the U.S., after taking the number two spot from Ford Motor Company (NYSE:F) yesterday. From a contrarian perspective, TSLA shares -- which were trading below $180 as recently as November -- could have more upside, too, if analysts turn bullish. At the moment, just three of 16 analysts recommend buying the stock.
RL Stock Rocked as Company Shutters Flagship Store
RL stock is getting hammered today, last seen 5.5% lower at $76.87, on news the company is closing its flagship Polo store on Fifth Avenue in New York and cutting an unspecified number of jobs. It's been an ugly few months for Ralph Lauren, which peaked at an annual high of $114 in late November. Against this backdrop, short sellers have been cashing in their bets on the struggling retailer. Specifically, short interest on RL shares declined almost 43% since early February.
Citron Note Whacks FleetCor Shares
Infamous short seller Citron Research has set its sights on FLT, saying the company has become "insanely financially dependent on fleecing its own customers." Additionally, Citron set a short-term price target of $100 for FLT stock -- a level the stock hasn't breached since October 2013. At last check, shares of FleetCor Technologies, Inc. were down 5.1% at $142.54, but that's nothing new. The shares have shed 17% since their March 1 high of $171.78. FLT stock is now at risk of bearish notes from the brokerage bunch, considering 10 of 11 analysts recommend buying the shares, with zero "sell" ratings on the books.