Tesla Stock Closes Just Under $200

tesla-flag-wavingThe price of Tesla Motors stock closed at just under $200 per share yesterday, and briefly went above $200 during day trading. So how long will Tesla stock prices continue to rise?

Tesla shares closed at $199.63, and posted a daily high of $202.72 before settling back under the $200 mark. That beats Tesla’s previous record high of $196.62, and analysts expect Tesla to declare a 19-cent profit per-share, this quarter on approximately $646 million in sales. That’s more than double the $303 million in sales Tesla reported in the 1st quarter of 2013.

It’s easy to understand why Tesla stock continues to climb higher and high, as the electric automaker continues to expand sales and charging networks both in the U.S. and abroad. Elon Musk is bullish on Tesla’s prospects in China, saying it could become Tesla’s largest market. With the launch of the Tesla Model X coming later this year, production at the Fremont plant is ready to take a big step forward.

Prices have opened slightly down this morning, but Tesla stock remains the hottest ticket on Wall St. At this rate, there may come a time when we look at Tesla stock and say “Gee, remember when it was only $200 per share?”

Image: Flickr/Steve Jurvetson

 

Christopher DeMorro

A writer and gearhead who loves all things automotive, from hybrids to HEMIs, can be found wrenching or writing- or else, he's running, because he's one of those crazy people who gets enjoyment from running insane distances.