Corner Growth Acquisition Corp
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Company profile

Corner Growth Acquisition Corp is a blank check company. The Company is focused on effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. It intends to focus on the technology industry in the United States and other developed countries. It has no operating history and no revenues.

Closing Price
$9.74
Day's Change
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
--
Day's Low
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Volume
(Light)
Volume:
0

10-day average volume:
108,558
0

Tesla stock wards off bear market with boost from UBS

8:01 am ET December 8, 2021 (MarketWatch)
Print

By Claudia Assis

Tesla was some $30 away from a bear market on Monday

Tesla Inc. stock on Tuesday snapped a four-day losing streak that took it very near a bear market, after UBS analysts slapped a $1,000 price target on the stock and called the electric-vehicle maker the EV market's "undisputed leader."

Tesla shares (TSLA) traded up as much as 4.8% at $1,057.67 on Tuesday, before paring gains to close up 4.2% at $1,051.75, shaking off weakness that took it to a close of $1,009.01 on Monday.

Monday's close was roughly $25 away from putting the stock into a bear market, as defined by ending at least 20% down from a record high. Tesla hit a record close of $1,229.91 on Nov. 4.

A close at or below $983.92 would make the bear market "official." The stock hit an intraday low of $950.50 on Monday, before bouncing to close above that threshold. On Nov. 15, it touched an intraday low of $978.60 before bouncing to close at $1,013.39.

Related: Elon Musk says Biden's $2 trillion, EV-friendly spending bill shouldn't pass.

UBS kept the equivalent of a hold rating on Tesla, but raised its price target on the stock to $1,000 from $725. The average price target for Tesla is $851.09, according to FactSet, which surveyed 41 analysts who cover Tesla. Of those, 17 rate the stock a buy, 12 rate it a hold, and 12 rate it a sell.

See also:Toyota picks North Carolina for $1.3 billion battery plant

Tesla's stock, which had tumbled 11.9% amid a four-day losing streak through Monday, has gained 49% this year, compared with gains of around 25% for the S&P 500 index.

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-Claudia Assis

	

(END) Dow Jones Newswires

December 08, 2021 08:01 ET (13:01 GMT)

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