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Tesla Short Sellers Fall Short
Stock closes up 2.65% at $226.25
Analyst Price Target $247.38
Los Angeles, CA, July 18, 2016 – Despite the technical issues it has encountered and the ongoing wave of negative
reporting about Tesla, the short-sellers
simply don't seem to be able to succeed, although they accumulated
a large 34% position
of the stock. Institutions, on the other hand hold 62% of the stock. As we all know large short positions (that may need to be covered eventually) can also drive the stock to new heights, once the company actually performs as expected.
Analyst Price Target $247.38
While the stock closed at $226,25 (
up 2.65%) today, the average analyst price target (13 analysts) is $247,38.
At its current price, the stock has grown to 13 times its IPO price during the six years since it went public, which I believe anybody would agree with, is an incredible achievement. What's even more incredible, there are still a lot of people who want to buy Tesla stock today. These investors are obviously not concerned that they might be buying too late, after it's already gone up considerably.
Over 400,000 Model 3 Orders
Tesla has no shortage of orders for its new Model 3, now over 400,000, representing close to $15 Billion in potential revenue. All it comes down to is: "Can Tesla deliver" in a timely manner. Expectations are that they may not be able to fully meet this lofty goal, but nevertheless, Tesla is clearly an exceptional company and is still an excellent investment for investors who believe in the future of the electric car and/or Tesla as a farther reaching company, maybe far beyond the electric car?
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