Sean Udall was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.
Quantum Trading Strategies CIO Sean Udall talked about Tesla Motors Inc TSLA on the show.
Udall felt that Tesla’s move into battery storage might justify the existing market cap for the stock, which he thought was fairly valued already.
“The battery deal is what they need to do to justify the current market cap of the stock at $30 billion and eventually make that market cap rise,” according to Udall.
The stock would be more attractive if it were 25 to 40 points lower, Udall said; however, he would not likely short it at current levels.
Tesla reports Q1 results Wednesday and heading into earnings it traded at $230.68, down 0.97 percent.
Listen to the show here:
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