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Tesla's Stock Finds a Happy, Stable Home in the Upper 700s (for now)

by Christopher Larson February 10, 2020

Tesla's Stock Finds a Happy, Stable Home in the Upper 700s (for now)

 

Tesla both scared and excited investors this morning, when the stock market's opening bell was followed by an immediate 8% gain from Tesla, sending the stock on to cross the $800 per share mark for the second time in the company's history.

 

As of 3:30pm EST, Tesla ($TSLA) traded at $783.82 per share, up 4.78% from yesterday's close, as opposed to the S&P 500 Index, which weighed in at $3,345.80, up 0.54% from yesterday's close.

 

Tesla's stock has performed outstandingly well the past few weeks, especially given the significant pullback other stocks have faced due to Coronavirus fears. Although it may not have been clearly visible at the time, viewing historical data shows a clearly lackluster month of January.

 

 

This graph tracks the S&P 500 Index from December to early February. Clearly, global unsurety took a mild toll on markets. Tesla's stock, however, seemed to completely ignore this recession, as Tesmanian previously predicted last month. When viewed next to other comparable stocks, Tesla has continued to show a market takeover as of recently. 

 

 

This chart tracks a logarithmic growth scale of Tesla, Apple, Microsoft, and GM. The other three in this index were chosen due to the frequency at which Tesla is compared to them. Tesla has scarcely closed down in the past 30 days. 

 

Despite economic uncertainty and the impending results of seasonality, Tesla has still outperformed other comparable stocks, despite a consensus rating of hold. Many research groups still have estimates and price targets of sub-$400 per share for Tesla. Unfortunately, as Tesla's retail investors have seen in the past, analysts will likely not be fully on board until the majority of the gains have already been celebrated. 

 

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Cover image used courtesy of Christopher Larson / renewablethreads.com

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 holds one share of Tesla, Inc., and currently (at the time of this article's publishing) holds options or securities in Tesla Inc. and/or its affiliates.




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