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Going into Wednesday trading, Tesla Motors ( TSLA ) stock is up for the week, despite giving back 1.3% Tuesday while the S&P 500 index slumped 1.1%. Electric car maker Tesla and other automakers have been chugging back from February lows, with none highly rated by IBD and only Tesla, Ford ( F ) and Nissan ( NSANY ) much at all above their key 50-day moving averages, among major names. IBD’s Auto Manufacturers industry group fell 1.6% on the stock market Tuesday but it’s up 37% over the last month to around where it was two months ago. Ferrari ( RACE ) raced above its 50-day line Tuesday, with the October IPO gaining 1.5% after a 2.2% lift Monday. It was the only one of 15 automakers tracked by IBD to advance Tuesday — the others fell between about 1% and 5%. General Motors ( GM ) remains above the line but close to it after its 2.9% drop Tuesday. Ferrari is still far down from its IPO price of 52, closing Tuesday at 41.22. Fiat Chrysler ( FCAU ) and Ford have the best IBD Composite Ratings among auto manufacturers now, but they’re not hot — just in the low 50s out of a possible 99. Those two car manufacturers reported surging sales for February while the broader car industry’s unit sales eased to an annualized rate of 17.54 million, below forecasts and under January’s annual pace of 17.58 million, according to Autodata. Geneva International Motor Show-Offs At home in the U.S., this is what’s going on with Tesla now : It’s counting down to its late-March Model 3 reveal. Its stock is being targeted by a short-seller. A rumored new Model S version might go 300 miles between charges Meanwhile over in Switzerland, Tesla took its Model X to the Geneva International Motor Show that runs March 3-13. Wingmen @gims_live #GenevaMotorShow pic.twitter.com/SPMcXz1Qyo — Tesla Motors (@TeslaMotors) March 3, 2016 Ferrari introduced its GTC4Lusso, among other debuts. Volkswagen ( VLKAY )-made supercars by the Bugatti and Lamborghini nameplates absorbed some of the limelight. Take a look at #Ferrari 's show-stealing stars at the #GIMS . #GTC4Lusso #CaliforniaT #TailorMade #HS #488GTB https://t.co/HRvEnsk6WL — Ferrari (@Ferrari) March 3, 2016 Scalper1 News
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