tesla stock price

Electric car manufacturing giant Tesla Inc (TSLA Stock Report) has had a decidedly up and down year so far. The stock slumped after Q1 2019 when the company’s deliveries had dropped considerably but in Q2 2019 the delivery count reached record levels and helped shore up the stock considerably.

Tesla Stock Price Hits September Highs

Over the past few weeks, Tesla stock price has been largely flat but on Wednesday it rose by 5.4%. It proved to be the biggest single-day gain for the stock in as many as seven weeks. That being said, there was no news with regard to Tesla that could have acted as a catalyst. Analysts believe that the jump could simply have been a case of the recent upward trend in the stock in recent weeks.

tesla stock price september

Since August 23 the Tesla stock has shown some bullish tendencies and in fact, it is currently up by 23% from the date. The recent rally of sorts maybe impressive for some investors but, it should be noted that it has declined by almost a third from its peak of $366 in 2018. The rise on Wednesday could also be a case of investors getting back into the stock since they think the current levels might represent good value.

READ MORE : Breakthroughs In Technology Put A Direct Target On 1 Weapons Detection Stock

What’s Next For Tesla?

Despite the current surge in the stock price, experts still believe that it is not yet the right time to buy the Tesla stock. Firstly, the price of oil is going down at a remarkable rate and if it continues then there would not be much of an advantage of instead going to electric vehicles.

On the other hand, an economic slowdown has gripped many parts of the world and in such a situation it would be difficult for Tesla to generate the sort of sales growth that is going to reflect on the stock price. Hence, despite the current bounce and the impressive innovations that are promoted by Tesla, the stock is not yet a buy.

READ MORE : Breakthroughs In Technology Put A Direct Target On 1 Weapons Detection Stock

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

The $40 Billion Dollar Content Gold Rush

Apple, Disney, Netflix, Amazon, NBC, Hulu & More are All Competing Within the Global Video Streaming Market and They All Need the Same Thing…

1 Biotech Stock is Positioning Itself for Success

Biotech has always been one of the best performing sectors in the market. A number of biotech stocks have produced life-changing returns because of their treatments and opportunities. You wont believe what this 1 stock is doing…

Multi-Trillion Dollar Industry Providing Massive Opportunity in 2019 & Beyond

The most recent global report from the United Nations states that by …

What Curing Cancer & HIV Could Mean for This Company, Its Investors & The World!

The opportunity for companies within this sector is massive we are now talking about an industry that is currently worth over US$ 100 billion with the potential in the next 6.5 years to be worth over US$ 200 billion.