Tesla Inc. Stock Underperforms Wednesday When Compared To Competitors

Archrock Inc

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Energy : Energy Equipment & Services | Small Cap Value

Company profile

Archrock, Inc. is an energy infrastructure company with a pure-play focus on midstream natural gas compression. The Company is a provider of natural gas compression services to customers in the oil and natural gas industry throughout the United States, in terms of total compression fleet horsepower and a supplier of aftermarket services to customers that own compression equipment in the United States. The natural gas that it helps transport satisfies demand from electricity generation, heating and cooking and the industrial and manufacturing sectors. It has two segments. Its Contract Operations segment is comprised of its owned fleet of natural gas compression equipment that it uses to provide operations services to its customers. Its Aftermarket Services segment provides a full range of services to support the compression needs of its customers, which owns compression equipment, including operations, maintenance, overhaul and reconfiguration services and sales of parts and components.

Tesla Inc. Stock Underperforms Wednesday When Compared To Competitors

4:33 pm ET May 18, 2022 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of Tesla Inc. (TSLA) shed 6.80% to $709.81 Wednesday, on what proved to be an all-around rough trading session for the stock market, with the NASDAQ Composite Index falling 4.73% to 11,418.15 and Dow Jones Industrial Average falling 3.57% to 31,490.07. Tesla Inc. closed $533.68 short of its 52-week high ($1,243.49), which the company achieved on November 4th.

The stock underperformed when compared to some of its competitors Wednesday, as Toyota Motor Corp. ADR (7203.TO) fell 2.81% to $155.48, General Motors Co. (GM) fell 5.96% to $35.83, and Honda Motor Co. Ltd. ADR (7267.TO) fell 2.62% to $24.54. Trading volume (28.9 M) eclipsed its 50-day average volume of 26.4 M.

Data source: Dow Jones Market Data, FactSet. Data compiled May 18, 2022.

(END) Dow Jones Newswires

May 18, 2022 16:33 ET (20:33 GMT)