TSLA Stock Surges 103%, Closing in on its 200-Day Moving Average

Tesla Inc (TSLA) stock has seen strong gains recently, rising 1.18% while the S&P 500 has fallen -0.4% as of 10:39 AM on Wednesday, February 15.[0] The share price of Tesla (TSLA) has risen by $2.47 from its previous closing price of $209.25, with 59,141,[0] In the last twelve months, the S&P 500 has dropped 6.41% and TSLA has decreased by 27.47[0] The price-to-earnings ratio of Tesla (TSLA) is 58.45, based on their earnings of $3.62 per share over the past 12 months.[0]

Tesla rose 3% to 207.32, nearing its 200-day moving average.[1] The shares dropped from an intraday high of 214.[1] But TSLA stock has surged 103% from its January 6th intraday low of 101.81.[2] At this point, investors should look to see if TSLA stock can reclaim its 200-day line and then perhaps consolidate, forming a handle within a deep base going back to September.[1]

Analysts have set a consensus 12-month price target of $199.78 on TSLA stock, indicating a potential gain of only 1.47% over the next year.[3] Notably, Tesla stock jumped this year following its CEO Elon Musk’s positive commentary about demand and production during the Q4 (fourth quarter) conference call.[3] The company is experiencing strong orders which exceed their current production capabilities.[3]

Tesla’s purpose is to hasten the global shift to renewable energy sources.[4] Since its establishment in 2003, Tesla has been setting new standards in the development of high-performance automobiles. Their vehicles are not only the world’s best-selling and highest-rated pure electric cars, with long-range and no tailpipe emissions, but also the safest cars in the world.[5] Tesla’s Model S sedan and Model X sports utility vehicle with falcon-winged doors have been the flagship models, but Model 3, a smaller, simpler, and more cost-effective mid-sized sedan, is expected to drive electric vehicles into the mainstream.[5] Furthermore, Tesla has now expanded its energy products to encompass solar, storage, and grid services with the opening of the Gigafactory and the acquisition of SolarCity.[5]

0. “Bullish Electric Vehicle Stock Alert: Tesla Inc (TSLA) Rises 1.18% Wednesday, Should You Buy?” InvestorsObserver, 15 Feb. 2023, https://www.investorsobserver.com/news/stock-update/bullish-electric-vehicle-stock-alert-tesla-inc-tsla-rises-1-18-wednesday-should-you-buy

1. “Futures Fall As Shakeout Deepens; Tesla Doubles From Bear Low” Investor’s Business Daily, 10 Feb. 2023, https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-market-rally-gets-its-shakeout-tesla-stock-doubles-from-bear-low

2. “Tesla: Possible Margin Compression Ahead (NASDAQ:TSLA)” Seeking Alpha, 17 Feb. 2023, https://seekingalpha.com/article/4578135-tesla-possible-margin-compression-ahead

3. “2 Laggards of 2022 are Outperforming in 2023; Should You Invest?” TipRanks, 13 Feb. 2023, https://www.tipranks.com/news/article/2-laggards-of-2022-are-outperforming-in-2023-should-you-invest

4. “Tesla, Inc. (NASDAQ:TSLA) Given Average Recommendation of “Hold” by Brokerages” MarketBeat, 13 Feb. 2023, https://www.marketbeat.com/instant-alerts/nasdaq-tsla-consensus-analyst-rating-2023-02-13/

5. “Barclays Initiates Coverage of Tesla With Overweight Recommendation” 24/7 Wall St., 16 Feb. 2023, https://247wallst.com/investing/2023/02/16/barclays-initiates-coverage-of-tesla-with-overweight-recommendation/