Is Tesla stock ready for a real breakout?
As it turns out Elon Musk can't be as cavalier as Donald Trump on Twitter. After the recent Twitter fiasco and the stock pullback of 10%+ and over 24% drop over the last year, today was finally the first glimpse of light.
Citroen has finally reversed his position on Tesla and the stock shot up 13% today.
I have been a huge supporter of Tesla since I first purchased the stock at around $47 and then again around $200. I see a future that is very bright and very electric (pun intended).
Here is a quote from Citroen: "It is in that spirit and with a great deal of analysis and due diligence that we can say for the first time, Citron is long Tesla as the Model 3 is a proven hit and many of the TSLA warning signs have proven not to be significant."
Finally, the rumors of a BK and other nonsense have been proven wrong and Tesla can finally go to where it should be about $1,200 a share. I know that seems insane and the valuation would be exponentially higher but let's take a look at the long picture.
Competition: literally NONE! Every other car manufacturer that has tried to create an electric vehicle has failed miserably. The current manufacturers like GM, Ford, Audi, etc are struggling to get vehicles that actually look like something a non-tree hugger, green peace wanker would want to drive. Nothing wrong with being for green and actually preserving the Earth and at the same time actually looking like you appreciate art and design at the same time.
Tesla has outsold most automakers and tomorrow we shall see the numbers. I am assuming they will be very good and the stock might rally another 15%.