Monday Wrap-Up: Tesla and the Coronavirus

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It’s been a solid day for the markets, with the Dow, S&P 500 and the Nasdaq all solidly in the green throughout the trading day.

So, before we turn our attention to the Iowa Caucus tonight--which we will be covering on TheStreet and our Twitter @TheStreet--let’s take a look at three of the biggest stories of the day.

The First Story Is Tesla

The stock was up nearly 17% to around $759 a share.

In the past three months, this stock is up over 139% and in the past year it’s up 81%

Part of the boost came from a series of price target boosts from analysts on Wall Street.

Argus Research boosted Tesla’s price target to $808 from $556, and kept it at a buy rating.

And then, on Friday, ARK invest published a note digging into Tesla’s trajectory during the next five years.

ARK says that it believes that Tesla could be at $7,000 a share by 2024.

Let’s Talk About the Coronavirus

The coronavirus now has 17,000 confirmed cases and over 360 deaths.

Throughout the day there have been a couple of stories so I’m going to break them down.

The first is that there are now 11 cases of the coronavirus int he U.S., according to the CDC.

Then oil fell to its lowest level in more than a year during midday trading. The fear of slowing demand has really hit oil hard.

And finally, Carnival’s Princess Cruises said that it’s turnaround of the Diamond Princess has been delayed for approximately 24 hours to allow Japan public health officials the opportunity to review the health status of all guests and crew on board after a former passenger tested positive for the coronavirus.

According to a statement emailed to TheStreet from Princess Cruises, the guest embarked on the Diamond Princess on January 20, and sailed a segment. Disembarked on Jan. 25 and then tested positive for the virus at a Hong Kong hospital on Feb 1. 

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