Re:Tesla's stock just hit a record $420
by lazyjones on Monday December 23, 2019 @01:24PM
(#21865761)
It's probably not one single reason. Tesla has had a lot of good news lately, from reports about Elon behaving a little better (and winning that defamation lawsuit), to competing EV from companies like Mercedes and Audi not really selling well and securing a large area for GF4 near Berlin. The most impressive feat for me was how quickly they built GF3 and started production in China, but my tiny contribution to the stock price was earlier this year (late May), the return to profitability in Q3 probably impressed many investors as well.
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Other smaller stuff too:
- Porche's Taycan EV is supposed to be the closest direct competition for Tesla cars, but its having production issues.
- Tesla just pushed a new software update that includes a lot of useful features (voice keyboard/commands, an official camping mode, saving camera clips on honk, etc)
- A lot of miscellaneous positive press is cropping up from the end of the year and end of the decade type reporting - Time for example put it as one of the "best gadgets of the decade".
- They recently released and presumably are testing a paid software update to boost M3LR off the line acceleration, which is an interesting situation to obtain revenue from already sold cars.
- Internally they're pushing to sell a lot to break sales numbers before EOY. Some places are reporting that they're even selling showroom floor models.
- They secured a US$1.4B loan from Chinese banks for GF3 acceleration, which was already ahead of schedule.
- They closed on the land for GF4 and are reportedly looking to start building Jan 2020.
- The recent news of possibly reinvigorating the EV tax credits in some way probably also helped.
- Solar is ramping up as well.