We're suddenly seeing a new and improved Tesla, writes tpoletti. Can Elon Musk & Co. keep it up?
After years of failing to meet overly optimistic forecasts, Tesla Inc. actually delivered on Chief Executive Elon Musk’s promises in 2019, which only opens it up to higher expectations and ambitions.
Tesla shares soared nearly 12% in after-hours trading, returning to a meteoric rise that had hit some speed bumps in mid-January as analysts grew concerned about its skyrocketing valuation. The company’s shares have climbed approximately 95% in the past 12 months to a market value of more than $100 billion, while the S&P 500 SPX, -0.09% SPX, -0.09% is up about 24% in that time.
It was problems associated with big stressful manufacturing and production pushes to meet goals for the Model 3 that hurt Tesla in 2018 and in the first half of 2019, and a new factory in China, plans for another factory in Berlin and a production ramp in Fremont, Calif., for the Model Y are similar large-scale projects on the books for this year.
The short-seller crowd have been covering their positions in the past few weeks and the position of shorts in Tesla’s stock has declined, according to the most recent short-interest tally. With its current frothy valuation, there will be continued pressure on Tesla to prove it has actually changed, and live up to, or even outperfom, its forecasts.
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