Automotive Stocks Worth Watching - August 8th

Key Points

• Tesla, NVIDIA, and SoundHound AI are highlighted as key automotive stocks to watch, driven by high trading volume and factors such as consumer demand and technological innovation.
• Tesla's stock recently increased to $331.80, featuring a market cap of $1.07 trillion, while it has been described as "balanced on a knife edge," suggesting investors should approach with caution.
• NVIDIA's stock rose to $182.92 with a market cap of $4.46 trillion, focusing on its extensive offerings in graphics and computing technologies relevant to various industries, including automotive.

Tesla, NVIDIA, and SoundHound AI are the three Automotive stocks to watch today, according to MarketBeat's stock screener tool. Automotive stocks are shares of publicly traded companies involved in the design, manufacture, distribution, and sale of motor vehicles and related components. Investors in these stocks gain equity ownership in automakers, parts suppliers, or aftermarket service providers and participate in their financial performance. Their value tends to be driven by consumer demand, technological innovation, regulatory changes, and global supply-chain dynamics. These companies had the highest dollar trading volume of any Automotive stocks within the last several days.

Tesla (TSLA)

Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.

NASDAQ TSLA traded up $9.53 during trading hours on Friday, hitting $331.80. 51,647,950 shares of the company's stock were exchanged, compared to its average volume of 106,516,992. The stock has a 50-day simple moving average of $319.07 and a 200 day simple moving average of $308.84. The firm has a market cap of $1.07 trillion, a price-to-earnings ratio of 191.57, a PEG ratio of 11.24 and a beta of 2.33. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla has a 1-year low of $194.67 and a 1-year high of $488.54.

Read Our Latest Research Report on TSLA

NVIDIA (NVDA)

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.

NASDAQ:NVDA traded up $2.15 on Friday, hitting $182.92. The stock had a trading volume of 62,143,910 shares, compared to its average volume of 244,886,750. NVIDIA has a 52 week low of $86.62 and a 52 week high of $183.88. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The business's fifty day moving average is $158.85 and its 200 day moving average is $133.52. The company has a market cap of $4.46 trillion, a PE ratio of 59.01, a P/E/G ratio of 1.58 and a beta of 2.14.

Read Our Latest Research Report on NVDA

SoundHound AI (SOUN)

SoundHound AI, Inc. develops independent voice artificial intelligence (AI) solutions that enables businesses across automotive, TV, and IoT, and to customer service industries to deliver high-quality conversational experiences to their customers. Its products include Houndify platform that offers a suite of Houndify tools to help brands build conversational voice assistants, such as Application Programming Interfaces (API) for text and voice queries, support for custom commands, extensive library of content domains, inclusive software development kit platforms, collaboration capabilities, diagnostic tools, and built-in analytics; SoundHound Chat AI that integrates with knowledge domains, pulling real-time data like weather, sports, stocks, flight status, and restaurants; and SoundHound Smart Answering is built to offer customer establishments custom AI-powered voice assistant.

Shares of SOUN stock traded up $3.21 during trading hours on Friday, reaching $13.93. The company had a trading volume of 145,950,297 shares, compared to its average volume of 39,937,957. SoundHound AI has a 12 month low of $4.32 and a 12 month high of $24.98. The business has a fifty day simple moving average of $10.69 and a 200-day simple moving average of $10.56. The company has a market cap of $5.60 billion, a price-to-earnings ratio of -25.33 and a beta of 2.57.

Read Our Latest Research Report on SOUN

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