Hind Site is 2020
Tesla for the Win
Tesla stock price hit an all-time high of $1371.58 July 6. You would be a big winner if you invested in Tesla at the start in July of 2010 for less than $20 per share. Or even earlier this year when the stock bounced between $300 and $900 per share. As usual Wall street can’t decide if the stock is heading for $1500 or if it is overvalued and ready for a fall.
Record Sales, Production and Covid Defiance
In the last 5 days Tesla jumped over 40% driven by surprising record sales in the second quarter. Other auto makers like Ford saw a drop of 30% in sales during the same time.
Tesla made news when they successfully fought to get their Fremont California plant opened in spite of coronavirus shut downs that started in March of this year.
CEO Elon Musk made news in May when threatened a lawsuit and a potential move of production operations out of Freemont. Within hours of the threat Tesla filed a law suit against the county and health department to remove the stay at home order. Two days later Tesla started bringing back employees in defiance of the order. Within days they successfully negotiated the plant reopening and dropped the lawsuit.
The Story to Come
Telsa is a leader in bringing new products to market. Gone are the days when they struggled with glitches and orders that were months behind on their delivery dates.
People were gob-smacked when Musk unveiled the new Tesla pickup truck last year. It broke the mold on the standard look of a truck and the market was skeptical. While no official numbers have been confirmed by the company rumors place the volume for the truck pre-orders at over 600,000.