Tesla Is Soaring, But the Market Is Missing a Key Ingredient

There are over 160 new 12-month lows and 120 new 12-month highs, illustrating mixed sentiment and how little speculative action is occurring. An upgrade and target increase of Tesla to $400 from $250 by Morgan Stanley is driving the stock up by about 9%, as a I write this, which makes it the biggest gainer in the S&P 500 and Nasdaq 100. Media stocks such as Paramount Global and Warner Bros. Discovery are doing well in hopes that Disney and Charter Communications will reach a deal, but mostly, it is just mildly positive action.