a good time to buy tesla stock? that hovering around 100-110
a good time to buy tesla stock? that hovering around 100-110
Tesla March, 2019, support level was $109.96
The RSI on the daily chart is indicating it's in oversold territory.
December 28, 2022, closing price was $112.71
It's currently up $5 in pre-market, today, 29 December and trading at $118, as I write.
The NASDAQ is up 0.5% in pre-market.
The most-talked-about stocks in the Reddit subforum Wallstreetbets were largely up hours before the opening bell on Thursday, with Tesla TSLA dominating the discussions.
The electric vehicle manufacturer surged 5% premarket, adding to a 3.3% rise Wednesday.
Tesla (NASDAQ:TSLA) stock gained in pre-market trading as Morgan Stanley analyst Adam Jonas told clients that the company is still set to lead the EV industry in 2023.
He cited “valuation, cash flow, innovation and cost leadership” as key reasons to maintain a Buy-equivalent rating. Jonas noted that the steep sell-off for Tesla (TSLA) as of late is driven by a flip of the dynamics for supply and demand, prompting lowered prices and more pressure on the business in key markets like China. However, he advised Tesla (TSLA) should still succeed under these conditions.
“We believe 2023 is shaping up to be a 'reset' year for the EV market where the last 2 years of demand exceeding supply will be substantially inverted to supply exceeding demand. Within this environment, we believe players that are self-funded with demonstrated scale and cost leadership throughout the value chain can be relative winners,” Jonas wrote. “We believe Tesla may be in position to extend its lead versus the EV competition in FY23 even before consideration of [Inflation Reduction Act] benefits where Tesla also stands out as the biggest potential winner.”
He noted that the Buy-equivalent rating contrasts with a Hold-equivalent assigned to Fisker (FSR) and Sell-equivalents for Lucid (LCID) and QuantumScape (QS). Jonas also expects Tesla to outperform legacy automakers and maintain its pole position despite tougher sales conditions.
Still, the price discounting for autos and lower value of Tesla’s (TSLA) adjacent businesses as reason enough to reduce his price target. He trimmed his target to $250 from a prior $330 on the basis of these factors despite remaining bullish on the stock.
Last edited by H4XoR; 29-12-2022 at 01:58 PM.
I'll keep my good old Citroen diesel going as long as possible .
h++ps://www.dailymail.co.uk/news/article-11581987/Drivers-demand-electric-car-charging-points-Britain-Tesla-owners-forced-queue.html
gonna be hard sell in any country with crazy electricity costs. If you can get away with home charging and switch to Octupus Go for your energy supplier its still cheaper than diesel but factor in the inflated purchase price and its not a reason to buy one.Originally Posted by oscar
when i made the call it was at $108, its now at $123
Personally I will never buy an EV, I know too much about batteries and how they work.
1: Batteries have liquid in them, I live in a cold country in the winter and the liquid can freeze/get very cold, wreck the batteries more quickly than in a hot country.
2: Batteries when hot have vents in them and the liquid can turn to a gas and vent, then the battery loses some capacity.
3: Battery prices to change out cost more than a second hand petrol car. Have a very limited lifespan, and are bad for the environment.
4: Price of electricity is more costly now and is dearer to run than gasoline.
5: Charging times, I don't want to spend hours waiting to recharge a battery (even if I could find a charging point that works).
6: Stress of the battery running out before I finish a journey, for example say I need to drive 100+ miles, I don't want the added stress of trying to find a charging point and then need to hang around in the middle of the night for 2 hours or so until I can have enough charge to drive home.
7: Stuck in the snow - the roads where I live are crap in the snow, if you get stuck on the motorway in a traffic jam, and it's snowing - your battery is going to run out before you ever make it to a charing point (which will most likely have a long queue with other EV's waiting to recharge).
8: If you want a charge point in your house - you need offroad parking and be able to park within a few feet of your house - or you are running a long cable (which can be easily stolen), people trip up on and sue you etc.
Human cost - have you seen kids in Africe working in cobalt and lithium mines?
Nope, electric cars are not for me, and virtue signalers such as celebs using their private jets, Humvees, limo's, large houses with heated swimming pools and Air conditioning systems, 60"+ TV's, etc - are not in any position to lecture me on how much carbon dioxide I produce. They most likely create more in a year than I have used in my entire life. As for their cabon neutral virtue signaling - that's all it is.Code:hxxps://www.europarl.europa.eu/doceo/do***ent/E-9-2022-002207_EN.html#:~:text=Despite%20the%20Commission's%20zero%E2%80%91tolerance,very%20little%20money%5B2%5D.
Last edited by mrdude; 08-01-2023 at 03:12 PM.
Were going off-topic, but electric is not the future for cars, it's just a cash cow.
Hydrogen was looking like it would be the future, but maybe now it will just be synthetic fuels if they can get the production costs down.
As for EV's they can not work, it's impossible not enough infrastructure and even if there was, you can't have millions of cars charging, cables running down streets for people to trip over, not everyone can park outside there own house (sometimes not even in the same street) etc etc, the only possible way it could work imo is if every road was dug up and wireless chargers were layed into the road, again never going to happen in a billion years (they can't even fix pot holes).
I agree about EV's, there's no way I would ever get one. Hydrogen Fuel cells....have you seen how much electric you need to to pass through water to create hydrogen? How explosive it is, and the lack of infrastructure for it, maybe if they forgot all the EV crap and concentrated on that it would be viable - but you would be driving a bomb on wheels. Mind you have you seen how fast an EV goes up in smoke when lithium comes into contact with oxygen?
Also about the pot holes - I've had pot holes in the road behind my house for over 15 years now, I've complained numerous times to the council but they are always skint and can't fix them, thanks to SNP being utterly crap.
I am not selling my petrol car or getting rid of it anytime soon, I'd rather make my own fuel for it than use an EV.
Last edited by mrdude; 08-01-2023 at 03:25 PM.
Continuing the slightly off topic theme and attempting to not get political I am not too happy about the time line for either net zero or for the UK to stop producing diesel or petrol vehicles as I presume that China and India and many other countries will continue to make them. While it seems obvious to me that we do not have the infrastructure yet for recharging the anticipated number of EV's there will have to be ICE vehicles used for many years yet. While a small EV may make sense for short journey city driving an electric powered plane, truck, tractor or boat would be next to useless with current battery technology. As a side note I have a friend who borrowed money to buy a Tesla and will not hear a word spoken against it. He is a bit fat and idle (am I allowed to say that?) and seems to enjoy watching a film while sitting in the car waiting for it to recharge.
My so called dirty diesel car can drive from Lands end to John o' Groats on one tank of fuel,, try doing that in an EV, it will probably take you a week.
My electric bike (Chinese made) is dead meat after just 3 years, some of the electrics got wet and the Chinese don't make spares and the company had gone bust in the mean time anyhow, Electric vehicles have become the province of the rich subsidised by the poor and trendy middle income earners, they wont survive the coming recession accept as council utility vehicles.
10 Tesla Investors Lose $132.5 Billion From Musk's Twitter Fiasco
HTML Code:https://www.investors.com/etfs-and-funds/sectors/tesla-stock-investors-lose-132-5-billion-from-musks-twitter-fiasco/
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