Hello all I am new here! I love to trade stocks and finding new ways to make and invest money. Here are my thoughts on Tesla as well as the potential it holds.
Tesla Inc. Oh what a ride it has been. I remember when I first got into Teslas stock in December at $192 thinking "will this ride continue or break?". Well, time has shown for the most part that Tesla is a viable option with shares currently trading in the mid $380's and the stock up 95.90% year to date. Many argue against investing in Tesla for various reasons but should we listen?
Sure, the stock may have broken its upward momentum in recent weeks but overall the stock continues to preform well. You may be wondering what all the "smart money" thinks of Tesla Inc and their stock and its not good. Many of the largest hedge funds and investment firms have sold their holdings over the past few weeks. Although many analysts agree that the stock may be heading for an extended downward trend or even a crash, many investors continue to jump into Tesla. All of this begs the question, is Tesla going to continue its overall upward momentum and rocket to $450? Shortsellers lost another $400 million in June betting against the stock so it seems foolish to do so in my opinion. I think Tesla Inc. will continue its ride up to around $400-$410 in the coming weeks. As for my personal holdings in Tesla I am still holding, my target sell is the $425 range. If I were making my first investment in the stock market I wouldn't put all my eggs in Tesla's basket. Tesla's current market cap is $62.8 billion USD, how you may ask? The company CEO Elon Musk himself has stated they may not show a profit until 2021, so how can they have a market cap of $62.8 billion USD? Speculation, pure speculation. The stock is still a great buy and still has a ton of potential for growth but most of Tesla's jump is based on pure speculation and lets not call it anything else. I look forward to writing an update post in the coming weeks and months to discuss the highs and lows of Tesla Inc stock and where my position stands.