Tesla Motors current has a market valuation of nearly $3 billion dollars, despite the fact it loses money hand over fist. This leads to the inevitable question, when will Tesla stock bust? There is a good argument for Tesla stock going bust, particularly since they are so dependent on government support. To me that’s the most serious problem with this company. The deficit does not seem to be going away as a political issue and programs, even green ones, seem to be on the chopping block. Even more so should the Republicans snag the presidency in 2012.
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Well Tesla has been actively traded in the stock market for a while now, but a common question comes across… what is the company’s stock symbol? Well the company is traded on the NASDAQ, which usually means more intuitive symbols, but we’re still one letter short from the full Tesla. Anyway, they went with the stock symbol TSLA, so the company’s name, less the E. Not a bad choice, not sure they had any other options, maybe ECAR? Guess not, so its stuck with the stock ticker moniker of TSLA.
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I noticed over at Tech Indicators that Tesla stock had fired a bullish candlestick alert. The morning star candlestick alert is a pretty strong reversal trend alert that could mean a brighter week for Tesla Motors in the equity markets. Some of the buzz for Tesla’s electric car is fading away as new challengers enter the market. One gaining a lot of momentum right now is a car from Wrightspeed. The Wrightspeed X1 prototype goes from 0-to-60 in 2.9 seconds making Tesla’s roadster seem quite slow in comparison. You’ll likely see many more competitors coming in on Tesla’s heels, will being an early market entrant be enough for Tesla to fight them off….?
Uncategorized candlestick, tesla, tsla, wrightspeed, x1