Should We Buy Tesla Stock Now? Here's What Earnings, Charts Show

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By Brian Deagon

tesla




Tesla stock has a history of being erratic, with its mercurial Chief Executive Elon Musk frequently drawing attention with bold claims about production and profitability that have been a challenge for analysts to discern.


Now, with production of the Tesla (TSLA) Model 3 in full swing, including at its new China plant, and with the company's Model Y and Cybertruck truck in development stages, Musk has defied skeptics once again.
Tesla stock has surged to record highs over the past nine weeks, reaching a market valuation above $100 billion for the first time, on Jan. 22. Tesla is up more than 208% since Oct. 23, the day before it jumped more than 17% on an earnings-fueled gap up.


Daily Chart Of Tesla

tesla chart


Among recent catalysts for Tesla stock: Billionaire investor Ron Baron said he believes the company has the potential to hit $1 trillion in revenue in 10 years. In addition, Baillie Gifford & Co, Tesla's top shareholder outside of CEO Musk, disclosed that it's raised its stake to 7.67% from 7.46%.
With its market cap now close to $141 billion, Tesla overtook Volkswagen (VWAGY) as the second most valuable auto company. But it's behind Japan's Toyota Motor (TM), which has a market cap of about $198 billion. The market cap of Tesla is more than General Motors (GM) and Ford Motor (F) combined.

Weekly Chart Of Tesla




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