Tesla Stock Skyrockets to Nearly $650 After Positive Earnings
To begin with the earnings call was anything but ordinary. The topics they discussed were actually pretty interesting and the Q and A had some quality questions. Tesla beat its earnings prediction by about 24% coming in at a whopping $2.14 EPS up from the the $1.74 prediction.
The stock has nearly tripled in nine months and this is all due to the productivity they’ve been hashing out. Q4 was especially good for Tesla and on top of that the guidance they gave for 2020. Deliveries, cash flow, and their profit margins were all exactly where Wall Street wanted them which is why the stock is soaring.
With all of this being said, the ticker is still a tricky one to maneuver. Price target ranges are super wide. About $600 spread on average with price targets ranging from $200 to $800. What I do know is that at the current rate things are going it is definitely headed to that $800 target and beyond, but this puppy has to crash at some point.
The bulls are happy the bears are unhappy and Tesla is taking names. Some other topics they discussed on the call range from Tesla Insurance policies to penetrating the roofing industry. More on all that to come. Here’s to the future.
See you in my next story discussing how difficult it is for the Tesla shorts and bears.
Alex Belauste reports Tesla cars and stories at Torque News. He has worked with the automotive industry for the last 18 years and has since grown very fond to the community. Alex has owned 16 different cars and writes automotive news based on research, his personal expertise and experience. Belauste has studied business at Oklahoma State University and has since started his entry into the professional automotive world. Follow Alex on Twitter at @Belauste and on Instagram. Search Torque News Tesla for more daily Tesla coverage from our expert reporters.