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Tesla Stock Charges Upward, Share Price Nearly Grazes $500

by Christopher Larson January 08, 2020

Tesla Stock Charges Upward, Share Price Nearly Grazes $500

 

Without a doubt, we have already seen Elon's Fall, and we are in the midst of Elon's Winter. Tesla stock has gained 102.24% in the past three months, and 215.4% in the past six months. 

 

As of today's market close, Tesla ($TSLA) stock traded at $492.14 per share, up 4.92% from the day's open; as compared to the S&P 500, which weighed in at $3253.05, up 0.49% from the morning's open.

 

Tesla had many reasons to soar today. This article will list some of the more salient reasons and a brief explanation:

 

In the state of New Jersey, new legislation provides a $5,000 tax credit to Model 3 buyers. In addition, the state is providing hefty amounts of resources and benefits to promote electrification. The new legislation also funds and promotes the building of charging ports in lodging establishments, places of employment, and residences. As has been the case previously, electrification in any capacity seems to directly benefit Tesla as well.

 

Hype is still being generated from the recent Shanghai kickoff event, which signified the official beginning for Model 3 and Model Y in China. It is expected that Model 3 will quickly gain traction in China, and this has already proven to be the case. In addition, Elon has high hopes for Model Y, suggesting that it could very well outsell Model S, Model 3, and Model X combined. 

 

A great deal of commotion was drummed up on Twitter last night in regards to the potential for a World War III. Certain news events made it seem as though Iran was preparing to declare war on the United States. In a statementmade by a high-ranking Iranian official, Iran isn't looking for war, but will respond as necessary. This morning, President Donald Trump gave a very patriotic and motivational speech, comforting and reassuring US citizens, and sending the market soaring.

 

 On smaller notes, investors are also preparing for the upcoming battery day, as well as the official start for ramped-up production and delivery of the Model Y, which is now confirmed to be built in both Fremont and Shanghai. Gigafactory IV construction will begin soon, and Tesla's outperforming sales figures suggest that Tesla will likely report a profit in this quarter's earnings report. 

 

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Cover image used courtesy of Tesla Inc.

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. or its affiliates.




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