But this week, Tesla surged through $400, an over-60%-improvement since September. The rally started when the company reported a surprise profit for the third quarter. And yet again, Tesla's market cap is the biggest of any US automaker .
Second, much of Tesla's equity is owned by big institutional investors and CEO Elon Musk himself. They aren't selling, at least not often, so Tesla is traded on a daily basis by speculators, for the most part. But with 2019 almost in the books, a lot more EVs are coming to market from other companies, and Tesla itself is on track to sell notably more vehicles than it did last year, when it delivered about 250,000.
Eventually, that put Tesla above $200. If Tesla can permanently park itself above $400, then history could repeat itself.Beware, however! Tesla giveth, but Tesla also taketh away.Tesla's fundamentals could allow for shares to trade around $400 for a while. But speed bumps abound. The bottom line is that it costs a lot of money to buy into a business that experiences big up and down cycles.
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Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »