When it comes to electric vehicles and modern transportation, people seem to favor Tesla Inc. However, when it comes to the company’s public profile, some are hesitant to get on board. With speculative projects seemingly always in the works, and an eccentric CEO at the helm, some consumers are wary. When it comes to Tesla’s stock price, this uncertainty transfers. Even so, a reputable trader predicts that Tesla’s stock price will jump to trading at $1000 USD per share soon.
The managing director of Ascent Wealth Partners Todd Gordon cites a few reasons for his generous price prediction. First and foremost, Gordon looks to the earnings report Tesla published in the first quarter of the year. The company reported a small profit, despite many challenges related to the coronavirus outbreak affecting their production both in North America and in China.
But, as Gordon told CNBC, there are other factors at play that look to raise the share price for Tesla. ““We think [CEO Elon Musk] has picked up a little bit of credibility here following the first launch of a privately funded space mission. This opens up all sorts of possibilities in terms of future exploration programs out of NASA so very interesting there and he seems to be a little bit more measured in his tweeting.”
With these positive factors working on Tesla’s side, future success both in the electric vehicle market and the stock market appears inevitable.
