Why this Tesla analyst expects the stock to rise sharply in the next three sessions -…

Why this Tesla analyst expects the stock to rise sharply in the next three sessions -…


Tesla, Inc. TSLA Shares are trading below the yearly high of $217.65 hit in mid-February Investors fear a fall in demand and margins have been impacted by recent aggressive pricing action.

The stock could continue to rise in the coming meetings and also in the short term, they say future fund‘S Gary Black.

Tesla has scheduled its annual general meeting for Tuesday. “CEOs often give gifts to shareholders before annual meetings to ensure shareholders are happy to attend the annual event,” Black said.

The fund manager also pointed to the possibility of further upside over time as the company stops slashing Model Y prices. He clarified that discounts on selected cars in stock do not count as price reductions.

Potential updates on Cybertruck, the timing of the $25,000 compact, the Model-3 Highland, pricing or promotional strategy, and Megapack expansion at the shareholder meeting could move the stock, Black said.

Incidentally, Tesla has continued to reverse its recent price cuts. Late Thursday, the company updated prices for its Model S, X, and Y. An increase in the prices of the former two by $1,000 and the latter by $250.

Elon Musk’s Announcement that a new CEO of Twitter has been identified should also be positive for Tesla stock as investors were uncomfortable that the social media platform was taking up much of the billionaire’s time. They lamented the fact that Musk was not available for Tesla on a full-time basis.

According to Tesla, Thursday’s session closed 2.10% higher at $172.08 Benzinga Pro dates.

Check out more of Benzinga’s coverage of the future of mobility follow this link.

See also: The best stocks of electric vehicles


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