Fireworks When TSLA Hits $200?
Shares of Tesla Motors Inc (TSLA) closed just above the $200 psychological level at $204.04 on Monday. Premarket trade today has sent it down 1.73% to $200.53. Given the hype surrounding the stock’slikely retrace to the $200 mark, it may pick on a big block of orders around the $200 and explode.
The company’s progress over the past couple of years has been phenomenal. Demand for the Model S has regularly stayed ahead of Tesla’s ability to fill orders and international deliveries, too, are picking up steam.
But the biggest upside driving Tesla’s stock for the bulk of the year have been the developments surrounding its massive near-term future growth catalysts, particularly the Gigafactory, for which construction is already under way in Nevada. Other catalysts include new product developments in the form of the upcoming electric Model X SUV next year and a cheaper mass market Model 3 in 2017.
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