Thanks to skyrocketing share prices, yesterday was a very big payday for Tesla founder Elon Musk. The already wealthy businessman added another $1.1 billion, ten percent of his net worth, to his overflowing wallet yesterday after Tesla's shares hit $248. This time last year, TSLA was trading at roughly $34 per share.
Remember way back when we mentioned that Tesla's Gigafactory for batteries might prove to be a good investment opportunity, with its potential to bring cell prices down to a level that could make the forthcoming Tesla Model E affordable, not to mention attractive for massive amounts of renewable energy storage? Well, today the automaker's share price popped – we'd say exploded, but it's not as alliterative – up over 15 percent to hit an all-time $259.20 high. It seems market analysts
Despite beating most analysts estimates in yesterday's upbeat third quarter financial disclosure, Tesla Motors' (TSLA) share price has taken a significant tumble. Down about 10 percent overnight, the company continued to be devalued as the day wore on, at one point hitting a low of $146.84.
Throughout the morning and into the early afternoon hours, shares of Tesla Motors (TSLA) skyrocketed after Morgan Stanley analyst Adam Jones upgraded the automaker's rating from "equal weight" to "overweight." Jones, in what almost seems like an April Fool's Day-ish sort of prank, set a price target of $70 per share and declared that Tesla is "America's Fourth Automaker."