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Tesla at New All-Time High Again; Market Cap Reaches $100 Billion

by Christopher Larson January 22, 2020

Tesla at New All-Time High Again; Market Cap Reaches $100 Billion

 

For those who have been following Tesla for some time, it is a very novelty thing to see such positive headlines in the news regarding the company and its progress. The first half of 2019 was the peak of spin and bad press -- even completely positive things would be reported on in a negative light, in attempts to drive the stock price down.

 

Oh, and the stock hit a new all-time high today. It's been happening so often recently that I sometimes forget to mention it in my articles. 

 

In addition, Tesla is now the only American Automaker with a market cap of $100 billion. Worldwide, Tesla is now second to Toyota, having passed Volkswagen this past week.

 

 

 As of 9:45 EST, Tesla ($TSLA) stock traded at $566.44 per share, up 3.51% from yesterday's close; as compared to the S&P 500, which weighed in at $3,335.08, up 0.43% from the morning's open.

 

I've been writing since late last year that Tesla is preparing itself for the stock haul of a lifetime. What I did not anticipate, however, is the length and slope of the rise. 

 

 

In fact, Tesla is up nearly 4% today, 15.15% in the past week, 38% in the past month, and up 90.6% in the past three months. The rise is driven due to a multitude of different things. It is likely about half due to recouping all the value that was lost during last year's FUD storm, and about half due to insanely positive things that are in the works with the company.

 

As is often the case with market analytics, once the stock started its upward soar, analysts' perspectives changed from one of pure skepticism to one of confused intrigue. As Tesmanian writer Eva Fox reportedjust yesterday, New Street Research recently changed their price target for Tesla, raising it by about 50% from $530 to $800. 

 

New street is far from alone in this bullish change of heart. Here is a list of a couple the recent price target hikes:

 

22 Jan 2020 Dan Ives of Wedbush raises PT 50% to $550/share.

21 Jan 2020 Pierre Ferragu of New Street raises PT 50% to $800/share.

15 Jan 2020 Tasha Keeney of Ark Invest raises PT 50% to $6,000/share (5 year TL). 

14 Jan 2020 Philippe Houchois of Jefferies raises PT 50% to $600/share.

13 Jan 2020 Oppenheimer raises PT 58% to $612/share.

8 Jan 2020 Bill Selesky of Argus Research raises PT 40.5% to $556/share.

7 Jan 2020 Dan Levy of Credit Suisse is forced to raise PT 70% to $370/share.

 

Needless to say, analysts are finally coming around. Tesla is still in its "perfect storm" situation. Many of the bullish short-term reasons I listed have now been phased out and replaced with a new set of short-term reasons to be bullish on Tesla. Not the least of which are the rumors that Model Y deliveries may begin as early as February. Read more about Model Y theories and rumors here. 

 

As Gigafactory III in Shanghai ramps up production, deliveries are sure to steadily rise. In addition, if Gigafactory IV is completed in the same approximate time frame as Gigafactory III, it could be completed by the end of 2020. 

 

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Cover image used courtesy of Getty Images

Legal Disclaimer --

This article is for informational purposes only. You should not construe any such information or other material as an investment, financial, or other advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, or offer by Christopher Larson, Tesmanian, or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.

Christopher Larson is not a shareholder in Tesla, Inc., however currently (at the time of this article's publishing) holds options or securities in Tesla Inc. and/or its affiliates.




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