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Should I buy Tesla stock right now? Should you buy Tesla Stock right now? Let’s look at what analysts are saying and why the stock is doing so well.
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With Tesla’s stuck where it is, Tesla is now worth more than Ford and GM combined.
So it’s down a bunch, I should buy Tesla Stock right?
So why is Tesla Stock soaring so much? Should you buy Tesla stock?
Tesla’s stock has been growing rapidly for many different reasons. Model 3, Cyber truck, Model Y early, Gigafactory Shanghai Gigafactory Berlin (Giga Berlin), and Tesla was profitable last quarter.
Then, we have analysts giving Tesla a positive rating. ARK invest, an investment manager focused on disruptive innovation, gave Tesla an expected value of $7000 in 2024.
Ark put a Tesla bear case at $1500 in 2024
Their Tesla bull case says there’s a 25% chance it will be at $15,000 in 2024.
So if you trust ARK invest on Tesla, either way, they see Tesla increasing with ranges of 2-20x by 2024.
Ron Baron saying they could have $1 trillion dollars in revenue in 10 years. He believes that Tesla “could be one of the largest companies in the whole world”.
Jim Cramer, host of mad money, who was previously anti-Tesla saying he believes Tesla will be worth twice what GM and Ford are worth.
Then Wedbush said “the new long term bull case scenario on the stock is $1000”, and Adam Jonas has a “super bull case” on Tesla looking forward with their battery and self-driving innovations.
Another reason why Tesla’s stock could be soaring is because more and more people are buying Electric vehicles, and seeing the massive potential.
On top of all of this, the UK just announced that the ban on diesel and petrol cars has been moved to 2035, meaning that in 15 years in the UK, not even hybrids will be an option there. More than likely, electric cars will win out, and with Tesla increasing their presence there with a Berlin factory, they should be able to capitalize on this move.
The biggest reason is probably due to a Tesla short squeeze.
Tesla Short sellers want the price to drop, but it keeps growing, thus Tesla short sellers have to cover their positions, which drives up demand and cost of the stock.
Josh Brown of Ritholz Wealth Management said: “I think what’s happened with Tesla recently represents the greatest short squeeze of all time”.
But why did it drop today? The main reason is because of the coronavirus in china. Tesla had warned at their Q4 earnings call that their new Shanghai factory could be affected, and it appears to definitely be affected.
The quote from Tesla’s vice president says “the proposed delivery in early February will be delayed. We will catch-up the production line once the outbreak situation gets better”.
Also, the Tesla short squeeze has probably subsided, putting Tesla back to a fairly normal price.
I see Tesla like Apple, and this is a frequent comparison. Apple vs. Tesla or Apple like Tesla.
If we look at AAPL today, they’re at $320. If we look back at January of 2009, they were around $12.
This was about 2 and a half years after the first iPhone was released, and they were worth around $12 per share. Now in 2020, about 11 years later, AAPL is valued at $320, about a 26x.
Today, where we are right now, the Model 3 has been delivering for 2 and a half years. So what could be expected from them in 11 years?
Tesla bear cases are as follows:
Elon Musk can be unpredictable, and even had a lawsuit last year for calling someone a pedo guy on twitter. Not the best look for a company.
Other manufacturers haven’t caught up to Tesla yet, but many believe that they can.
Federal tax incentive for Tesla’s has run out, meaning that if you buy a Ford Mustang Mach-E when it;’s released, you;’ll get a $7500 tax credit from the US government.
Then we have bear cases like Brian Johnson putting a $200 price target on Tesla, Citigroup putting a $220 sell rating on Tesla, among many others.
So should I buy Tesla stock? Should you buy Tesla stock? If you’re looking for a short term gain, maybe? It has been growing a lot, and today it dropped which could be a great time to buy.
What are you going to do? Leave a comment below and let me know.