According to recent reports, Tesla shares have hit a record high. Data indicate that Tesla has soared by 615% this year. Tesla, Inc. offers services in the design department, development, manufacture, and sale of fully electric vehicles. In addition to energy generation and storage systems. Tesla also happens to provide vehicle service centers, supercharger stations, and the latest technologies in self-driving capability.
Tesla shares hit a record high
A news source tweeted, “Tesla is making all-time highs again this morning and will continue climbing higher all the way through $800 a share fast! December 21st TSLA moves to the SP 500 where liquidity will purchase billions in Tesla stock. Tesla will see $750 to. $800 by Christmas.”
Several users are regretting not buying Tesla shares in April. One user tweeted, “Tesla shareholders were almost bought out at $84 per share in Q4 2018. We are all super lucky to own a slice of Tesla, now valued at $600 per share. Don’t sell a single share. Even one share will be incredibly valuable someday.” This demonstrates the unpredictable nature of shares. Many owners of Tesla stocks express that this has been the most fruitful investment of their lives.
Earlier yesterday, Analysts at Goldman Sachs had a change of heart regarding Tesla stocks. Goldman Sachs upgraded the Tesla stocks from neutral to buy last week. This increased their 12 month price target by 325$, from a $455 to $780. Tesla closed on Friday at the amount of $599. The announcement also stated that Tesla is likely to secure a place in S&P 500.
The S&P 500 is an index that calculates the stock market performance of 500 biggest companies that are listen on stock exchanges within the United States. This index is one of the most commonly referred to equity indices. The analysts at Goldman Sachs also maintained that they believe the EV adoption is accelerating. The reasons behind this are the decreasing battery prices, that are falling much quicker than expected.
In addition to EV adoption accelerating, there is a rapid increase in regulatory proposals. These regulatory proposals aim to restrict or all together ban the sale of internal combustion engines. These regulatory proposals will probably persist of the next few decades. Consequently, the analysts predict EV to have 18% globally in 2030, and an increase of up to 29& in 2035.
The success of Tesla can be attributed to Elon Musk who has made big strides after taking over the company in 2008. Tesla has ventured onto a project of massive expansion with regards to manufacturing. Elon Musk intends to eventually manufacture 20 million electric vehicles a year over the next decade. This constitutes more than double the current production by Tesla. Tesla aims to expand its manufacturing ability on a massive scale. In response, the stock owned by Tesla has achieved great heights this year.
As of writing, Tesla shares are trading 3.24% at $618.23 per share.