Bullish on Tesla Motors?
It seems that almost every day, there is news, most of it incredibly good, about what Tesla, driven by charismatic entrepreneur Elon Musk, is up to. Recently, the news is the “Gigafactory,” to be located somewhere in the U.S. southwest, in which the company plans to build huge volumes of low-cost batteries.
When I sold the ExxonMobil that my father bequeathed me, I considered buying stock, which, at the time, was trading under $30. As of this morning, I would have made almost nine times my money.
The interesting news here, however, isn’t crying about the past, it’s the lack of predictability about the future. Wedbush sees a $295 target for 2017; Bank of America Merrill Lynch reaffirms its predicted crash to $65. Someone’s going to be far more embarrassed here than the folks who picked the Denver Broncos to win the Superbowl.
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