After the Baird and Bernstein bullish notes, the shares of Tesla went up more than 8 percent last Monday while went down 2 percent immediately on the next day when the company CEO announced that they would cut two paint colors to simplify the manufacturing process.
On Monday, the shares went up to $285.50 while the trading closed with $295.20 on Friday. But these records show that the company lost 15 percent as per this month’s records while gained 24 percent in terms of 52-week’s hike.
The company was facing a loss of more than 20 percent from the last month even after the boost of 8 percent on Monday. Now, the company has cleared all its losses by gaining in a total of 12.14 percent on Friday.
Toni Sacconaghi, Bernstein’s analyst after Monday’s records said that Tesla is going to do favorably well for some more weeks and the risk has just blew off and the company took a twist while showing the potential to do more better and comes to its middle range of $270-370.
Lately, Tesla stocks were under pressure due to the misconduct on a live stream video of the company’s manager and CEO, Elon Musk. During an interview with Joe Rogan, he got indulged in the use of marijuana. But now, the stock came back on the track.
The company is planning to launch its Gigafactory, which is going to cut down the cost of the company through an industrialized battery pack mechanism and production process of economies of scales.
It is reaching towards the goal of being profitable in the third quarter of this year as set up by the company’s CEO, Elon Musk. He also announced last week that the company Tesla is going to build and deliver cars in the September quarter as twice as delivered during the last quarter.
The stock gained 12 percent overall across the trading of five days this week, which makes it the best week for Tesla after August 3, 2018.