Covid-19 Skyrocketed Tesla Stocks: Great Time to Invest!

In 2020 while many companies were struggling to survive during covid 19 recession, Tesla Inc. rocketed its stocks by almost 8x. At the beginning of the year, Tesla stocks went from level $90 to $700 in late December,  currently reached climax with $884.49 on January 2021. According to Forbes, “Although a good deal of the run-up was due to technical factors such as greater retail investor interest in the stock, the inclusion to the S&P 500 index, and a general pivot to higher-growth stocks through the Covid-19 recession.” Tesla (TSLA) fell short of its stated goal of 500,000 deliveries in 2020, even though Wall Street analysts were expecting the company would miss it by about 9,000 cars, rather than a few hundred. According to analyst Dan Ives of Wedbush Securities, "In a nutshell, Tesla had a high bar to hit for the fourth quarter and impressively exceeded the Street ... an eye popping performance to finish the year." On January 8, 2021, Tesla stocks flashed signals of climax top with $884.49. The increase in stocked value is seen as exhaustation gap and later preceded to drop. The stock going up 7-8 days in a row signalled a pullback. On January 11, stock went down 7.8% to close at 811.19. The drastic increase in Tesla is assumed to be due to its announcement on vehicle deliveries on January 4. The increase in Tesla stocks can be associated with its recently launched products. Tesla launched the Model Y compact SUV in early 2020, expecting to be outselling Model 3. Sales of these vehicles could predict a bump. Tesla production at Shanghai towards the end of 2019, with capacity of 200k vehicles per year, was a key element in its increased production. Another remarkable factor would be, company has increased its self-driving software capabilities and battery advancements. Based on analysts offering 12 month price targets for TSLA, the average price target is $606.21 with a high estimate $1036 and a low estimate of $40. According to Nasdaq, analyst Firms’ recommended consensus for TSLA is to buy stock. People want to travel when the pandemic is over. It’s a good idea to have a vehicle to go on trips, since flying is risky and airports are flooded with people. Great time to invest! Sources https://www.nasdaq.com/market-activity/stocks/tsla https://www.forbes.com/sites/greatspeculations/2021/01/05/up-8x-what-really-changed-for-tesla-stock-in-2020/?sh=429eaab86594 https://www.investors.com/news/tesla-stock-other-evs-surge-on-strong-year-end-deliveries/ 

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Covid-19 Skyrocketed Tesla Stocks: Great Time to Invest!

Jan 24, 2021

bearish

general Analysis

[2 min Read]

In 2020 while many companies were struggling to survive during covid 19 recession, Tesla Inc. rocketed its stocks by almost 8x. At the beginning of the year, Tesla stocks went from level $90 to $700 in late December, currently reached climax with $884.49 on January 2021. According to Forbes, “Although a good deal of the run-up was due to technical factors such as greater retail investor interest in the stock, the inclusion to the S&P 500 index, and a general pivot to higher-growth stocks through the Covid-19 recession.”

Tesla (TSLA) fell short of its stated goal of 500,000 deliveries in 2020, even though Wall Street analysts were expecting the company would miss it by about 9,000 cars, rather than a few hundred. According to analyst Dan Ives of Wedbush Securities, "In a nutshell, Tesla had a high bar to hit for the fourth quarter and impressively exceeded the Street ... an eye popping performance to finish the year."

On January 8, 2021, Tesla stocks flashed signals of climax top with $884.49. The increase in stocked value is seen as exhaustation gap and later preceded to drop. The stock going up 7-8 days in a row signalled a pullback. On January 11, stock went down 7.8% to close at 811.19. The drastic increase in Tesla is assumed to be due to its announcement on vehicle deliveries on January 4.

The increase in Tesla stocks can be associated with its recently launched products. Tesla launched the Model Y compact SUV in early 2020, expecting to be outselling Model 3. Sales of these vehicles could predict a bump. Tesla production at Shanghai towards the end of 2019, with capacity of 200k vehicles per year, was a key element in its increased production. Another remarkable factor would be, company has increased its self-driving software capabilities and battery advancements.

Based on analysts offering 12 month price targets for TSLA, the average price target is $606.21 with a high estimate $1036 and a low estimate of $40.

According to Nasdaq, analyst Firms' recommended consensus for TSLA is to buy stock. People want to travel when the pandemic is over. It's a good idea to have a vehicle to go on trips, since flying is risky and airports are flooded with people. Great time to invest!

Sources

https://www.nasdaq.com/market-activity/stocks/tsla

https://www.forbes.com/sites/greatspeculations/2021/01/05/up-8x-what-really-changed-for-tesla-stock-in-2020/?sh=429eaab86594

https://www.investors.com/news/tesla-stock-other-evs-surge-on-strong-year-end-deliveries/

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TSLA

Tesla, Inc.

679.49

-2.30
-0.34%

Return

19.74%
Change % Since Posting
167.15
Change Since Posting
846.64
Price When Posted

Metrics

761.98
Target Price
10/ 10
Confidence
6-12 Months
Timeframe
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