> the stock jumped about $1.50 or about 0.75 percent
Sounds like the market handled the joke incredibly well if it didn't even budge 1%.
Sounds like the market handled the joke incredibly well if it didn't even budge 1%.
In the following minute, the stock jumped about $1.50 or about 0.75 percent from its level the moment before to as high as $188.50.
Nearly 400,000 shares traded in that time, and it was the heaviest one minute of trading volume in the stock since the opening 60 seconds of trading on Feb 12.
Tesla shares quickly retraced most of that upward move and ended the session at $187.59, down 0.63 percent from Tuesday’s close.
edit: grammar
I'm on mobile but essentially if all the auto companies don't move and Tesla goes up 0.75% then it's a pretty good day for Tesla.
Edited to fix typo
1% might be a .01 sigma move. It might be a 3 sigma move.
Please don't present your opinions on a matter like this as if they are facts, especially when you are ill-informed.
I think that "percent change" captures the reader's imagination well, because it rather easily can be converted to an answer to the top question that a reader of a finance article is probably wondering:
"What potential returns were there to be made on the market, for this event, had you had knowledge that this event was going to happen?"
Otherwise, if you want to answer the reader's possible question of:
"How rare is this type of movement?"
I would prefer a metric of "mean time between events like this", with "events like this" having some reasonable definition, like versus previous history of this asset, or against similar assets, or against all previous April 1st movements of this asset.
In which case, neither of those really answer the question.
In the second you still need to compare the time period to other time periods, or you end up with "is that frequent?" Which is a very similar issue.