It's been a rough week in stock markets around the world, with China leading the way down. But, if you kept your shares of Tesla Motors through these few days of ups and downs, then that glowing Consumer Reports review yesterday is your best friend. Tesla stock closed at $242.99 yesterday, an increase of $18.15 (or 8.07 percent) from its previous close of $224.84. It kept its higher value in aftermarket trading last night and is moving up again this morning (up to $246.34, or 1.38 percent, as of this writing).
TSLA has been up and down for the past few months, moving dramatically when analysts sing its praises or air their worries. It's still down from its all-time high of $280.02 back in early July 2015.
Over on TheStreet, the portfolio manager of the Action Alerts PLUS Charitable Trust portfolio, Jim Cramer, said that Tesla is, "a cult stock that has lots of adherents. I am neither here nor there on it but I recognize that this kind of news inspires retail buying and I am never going to try to stop anyone buying shares in something they love."
The Consumer Reports review made headlines around the globe, in part because the all-electric car originally scored a 103 percent. This result forced CR to adjust its own test. Independent reviews like that obviously have an impact on how the market sees the company, but we won't be at all surprised when some other bit of news drops things back down. What do you expect?
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TSLA has been up and down for the past few months, moving dramatically when analysts sing its praises or air their worries. It's still down from its all-time high of $280.02 back in early July 2015.
Over on TheStreet, the portfolio manager of the Action Alerts PLUS Charitable Trust portfolio, Jim Cramer, said that Tesla is, "a cult stock that has lots of adherents. I am neither here nor there on it but I recognize that this kind of news inspires retail buying and I am never going to try to stop anyone buying shares in something they love."
The Consumer Reports review made headlines around the globe, in part because the all-electric car originally scored a 103 percent. This result forced CR to adjust its own test. Independent reviews like that obviously have an impact on how the market sees the company, but we won't be at all surprised when some other bit of news drops things back down. What do you expect?
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