General Motors (GM) exploded higher last week after highlighting electric vehicles and the concept for a flying car.
This chart compares the price action of GM with Tesla (TSLA). It uses weekly candles and the relative strength indicator set to 1-period intervals. That means each relative strength bar shows how much GM outpeformed or underperformed TSLA each week.
According to this analysis, GM just had its best week against TSLA since emerging from bankruptcy in 2010. GM also had the highest weekly share volume ever.
|Tesla (TSLA)||General Motors (GM)|
|Price / Book||50x||1.6x|
|Price / Revenue||28x||0.6x|
|Price / Earnings||1,580x||9x|
Consider other data points comparing the two companies in this chart to the right.
Obviously TSLA and GM are very different companies. But as GM becomes more environmentally friendly, investors may pay higher valuations. Last week might have represented a big step in that direction.