Published on February 14th, 2014 | by Nathan August0
Tesla (TSLA) Stock Sets Record High On Thursday
Despite predictions to the contrary, Tesla’s stock just continues to rise. In fact, it just recently hit a new milestone of over $200 a share. The exact peak was $202.72 a share, and occurred yesterday, February 13th. Here’s a screenshot of Tesla (TSLA) stock details:
The recent record high comes after a bit of a dip back in November, when the stock fell by $70 dollars a share, from the previous high of $190. The stock has been on a more or less steady recovery since then. Before that fall, the stock had been on a meteoric rise, shooting up by over $150-dollars-a-share in less than a half-year.
The generally accepted reason for the drop in November is that the company’s third-quarter 2013 financial results didn’t meet investor expectations — though, widely reported Model S fires probably played a part as well, despite the fact that the numbers for fires per car sold is far below the average in the US.
On Tuesday, Autoblog Green provided some thoughts on the subject:
If you had chosen that low point to invest, we imagine you are wearing a very self-satisfied smile today. That’s because the TSLA stock has more than reversed all previous losses and reached a high of $201.91 (since this was written the stock has hit a new peak of $202.2). The most dramatic part of that rise came this week as the price saw a gain of $30. By the end of the day today, TSLA settled at $196.62, up just six cents from the close of trading yesterday.
Whether or not the stock has been buoyed by anticipation of the upcoming fourth-quarter financial reporting – estimated to happen a week from now – is hard to say. Certainly the fears over future battery supply constraints have been calmed, and we expect the upcoming call to have even more concrete details about the giga-factory.
However, since then, the stock has risen again, hitting the $202.72 a share just yesterday.
It’s hard to say where exactly the stock goes from here, but the potential for further growth does seem to be there… It’ll be interesting to see what happens with the launch of the Model X at the end of this year.
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