Tesla’s stock (TSLA) is hitting new all-time highs of $450+ per share this morning after the automaker announced impressive delivery numbers for the fourth quarter.

Electrek, By Fred Lambert

© Electrek | Tesla (TSLA) hits a new all-time high of $450+ on impressive delivery numbers

Over the last few months, Tesla’s stock has been on a strong rally that resulted in pushing several new all-time highs over the last few weeks.

Last month, the stock even reached over $420 per share, which was the controversial price at which CEO Elon Musk claimed he secured funding to take Tesla private.

Now Tesla is extending its rally with the stock being up by as much as 5%, moving it past $450 per share this morning.

© Electrek | Tesla (TSLA) hits a new all-time high of $450+ on impressive delivery numbers

The jump this morning is due to Tesla announcing record deliveries of 112,000 cars last quarter.

Before the announcement, Tesla’s stock was down with the rest of the market on increased tensions between the US and Iran, which also sent oil prices higher.

The rest of the automotive market is down.

Electrek’s Take

This is a fun rally for shareholders and it shows that a lot of people’s perception of Tesla as a company is changing.

To this day, many think that Tesla is just a fad and while they make nice cars, they are losing a ton of money and won’t last.

This way of thinking is going away.

Tesla made a decent profit in Q3 and while nothing is confirmed yet, it is looking good for the fourth quarter with strong deliveries.

While it doesn’t mean that they can keep it going, a lot more people are starting to believe that the automaker is here to stay.

We are even seeing some shorts dropping as they are running out of arguments.

2019 was a hard year for TSLA shorts and I think 2020 could be even worse. I think Model Y’s start of production is going to be Tesla’s smoothest yet.

It should help the automaker reach the production of over 500,000 cars in Fremont alone and I wouldn’t be surprised if Gigafactory 3 produces over 100,000 cars at Gigafactory 3.

That’s a lot of electric vehicles. The main argument of the shorts is that there will not be any demand for them due to competition. They have been wrong about that before and they will be wrong about it again.

Full disclosure: I am long TSLA.

This article was originally published by Electrek. 
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