Can we count on Tesla stock for the long term?
As always I said, when it is about Tesla or any asset that somehow Elon Musk engaged with that, then it is not just the asset value, his powerful character also is the game changes in the market.
Musk is a genius and there is no doubt about that. But some investors have a problem with that! Not with Tesla Stock, with a special character of Elon Musk. He is usually busy with different projects as he is so active and always looking after new since and projects. Being busy with different projects, sometimes makes you forget about your main goal, which several times happened with Tesla. Tesla (NASDAQ: TSLA), which currently is the biggest electric vehicle manufacturer, has defied Wall Street’s expectations repeatedly. This instability makes some investors worry about holding the stocks for a longer time. We can remember its first rally before the stock division. Before testing historical highs around 2K, most of its older shareholders sold their shares between 500-700 US Dollars.
Yesterday, Wednesday, March 23, its shares price on the seventh bullish day in a row tested two month high at $1040.34.before closing the day with a 0.52% gain at $998.29. Even if it was short-lived testing, however, Tesla recaptured the $1,000 mark as the company’s CEO Elon Musk officially opened the new Giga Berlin (or Gigafactory Berlin) plant in Grünheide. According to the Tesla website, this factory is expected to produce up to 500,000 vehicles annually. Most probably you have seen Musk dancing video with a drone when he was delivering the Tesla’s first German-made cars to 30 clients and their families at the carmaker’s 5-billion-euro ($5.5 billion) plant.
And now add the report that Hertz Global Holdings (OTC: HTZGQ) Inc has added Tesla mid-size SUV Model Y to its electric vehicle fleet, according to the car rental firm's website.
Mentioned news helped the tesla stock to see higher than 1,000 US dollars once again. And now, technically also it is in a clear uptrend above 200 DMA at $855, where the previous downtrend also has ended. We know that April 7th will be the official GigaFest opening celebration in Texas. Before we saw that Mr. Musk used these events to announce new plans or news about new futures of the company, therefore, being positive before the meeting will help the stock price to increase more. After 7th April, depending on overall market sentiment, Tesla stock also will find its direction for the mid-term.
