Tesla Motors has been on something of a roll recently, and the company’s stock price is reflecting that, hitting an all-time high of just under $53 earlier this week.
Tesla shares briefly hit the $53 mark early on Tuesday morning, shortly after market opening. The new record high is around three times what the initial public offering price was back in June 2010, $17 a share. Shares have already risen 50% just in last year alone, no doubt largely thanks to the great success of the Model S, and to the company reporting a profit for the first time.
As Gas2 notes: “This stock market success stands in stark contrast to competitor Fisker Automotive, which was recently declared one of the worst venture capital disasters in recent history.” That’s not to say that Tesla has done everything perfectly, but it certainly seems to be on the right track.
Tesla’s Model X SUV is due for release sometime towards the end of 2014, followed by the company’s “more affordable” 4th production model to be released sometime before the end of 2017. The 4th production model is going to be somewhat smaller than the Model S, and to sell for about half of what the Model S currently costs. All of that sounds pretty promising to me. If I had to guess, the overall upward trend of Tesla’s stock is likely to continue.
As of writing this article, Tesla shares are currently selling at $52.
Image Credit: Tesla Motors