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Using Kensho technology, CNBC will surface research and analytic insights designed to create actionable, historical content around market moving events. A TALE OF TWO STOCKS
Tesla soared on Thursday after surprising the street with a return to profitability – posting strong growth in overall revenue and unit sales. Short-sellers lost more than $1 billion on Thursday betting against the electric car company. Since its IPO in 2010, the company has had similar 1-day jumps on 9 other occasions. According to history, the bullish trend could continue. A month after similar moves, the momentum tends to continue with the stock gaining another 10 percent, trading positively 78 percent of the time.
Meanwhile, Twitter suffered one of its worst days as a public company on Thursday – tumbling over 20 percent. The company citing “a number of headwinds” for the revenue shortfall, including issues related to its ad targeting products. Two weeks after similar drops, the selling tends to continue – with shares of Twitter shedding another 4 percent, trading negatively 83 percent of the time.
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