One year ago, Tesla stock sat at just above $420 a share. In the past year, we’ve seen Tesla secure their market dominance and overcome numerous obstacles. Their stock continued to rise as they became the world’s most valued auto manufacturer, hitting roughly $1337 a share late week. That over triple where it sat just a year ago. But after Tesla announced a 5 for 1 stock split on August 11th, their share price has rocketed up to over $2000.
There are many factors behind Tesla’s growth. But as of late it seems the main driver of growth has been just increasingly optimistic sentiment among investors. Tesla was supposed to get crushed by a big-budget auto manufacturer years ago, but the “Tesla killer” never came. I’m very optimistic about upcoming offerings like the Nissan Ariya. But for now, 80% of BEV sales in the US are Teslas. Tesla has secured their dominance over the market, with even more exciting offerings like the Cybertruck on the horizon.
Those betting against Tesla are losing hope. Tesla has held strong, with the first completed Model Ys rolling off the line months ahead of schedule. Even factory shutdowns and record low demand hasn’t been enough to slow Tesla down. They managed to make a profit in the middle of a global pandemic. It sure is a bad day to be short on Tesla.
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