Loading...
Loading...
To say
Tesla MotorsTSLA has had a good week would be a massive understatement.
Before its earnings announcement on May 8, Tesla was already gaining some serious steam throughout April. After closing the month of March at $37.89, the automaker finished April at $53.28, +40.61 percent higher.
Then came the earnings announcement. EPS $0.12 vs. $-0.01. Revenue $562M vs $500.2M. 5,000 new Model S vehicles in Q1, exceeding guidance of 4,500. 5,000 more Model S vehicles expected in Q2.
The stock soared on the announcement, closing on May 9 at $69.40. +28.54 percent since May 1.
On May 10, Consumer Reports gave the Model S a
99 out of 100 rating, and a WSJ article surfaced staking a positive take on the automaker. Tesla up another +10.60 percent that day.
After Monday's massive follow-through to the tune of an additional +14.38 percent, Tesla opened Tuesday morning's session just north of $94 following a price target increase to $103 at
.
The innovative automaker has posted a 52-week gain of +198.3 percent.
To put it in perspective, Lawrence McDonald (
@ConvertBond) tweeted the following stat:
Market Capitalization –
- General Motors GM: $43B
- Ford F: $54B
- Tesla Motors: $10.6B
The biggest difference here – Tesla only has one car.
Talk about a good week.
While Tesla is seeing some profit-taking this afternoon, the recent run up raises some seriously intriguing questions for the future – What happens when they produce more vehicles? While this move is now parabolic, can the fundamental grounds for these recent gains set a new floor at higher prices?
Whatever the case may be, Tesla has had an extremely entertaining and historic short-term. For now,
we'll have to sit back and see how the fast money plays it.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in