Tesla (TSLA)

May 4, 2022Trade Ideas

After a brutal pullback, shares of Tesla (TSLA) appear to have bottomed out.

From a current price of $909.25, we’d like to see the EV stock race back to $1,100 near-term. Helping, the company just scheduled its annual meeting on August 2, which means we may also be nearing a stock split. We also have to consider the electric vehicle boom isn’t slowing. In fact, according to Electrek.co, “Electric car sales in the United States jumped to a record high of over 200,000 vehicles during the last quarter (Q1 2022).”

Also, according to Veloz.org, “California’s EV market continues to grow! This was the state’s strongest quarter for EV sales to date. With 81,292 electric vehicles sold this quarter, EV sales are 29% higher than last quarter. Q1 of 2022 surpassed Q1 of 2021 numbers by over 20,000 vehicles. California bought 39% of all EVs in the United States so far this year, despite representing only 12% of the US population.”

As long as that trend continues, there’s a lot to get excited about with EV stocks, like TSLA.


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