And its performance matched its looks, going from 0 to 60 MPH in 3.7 to 3.9 seconds, depending on the model.
Be honest… even if you’re not an attention hog, you’d have to be lying if you said you’d rather drive around in one of those other EVs… They were just odd looking.
And if you’re going to turn heads, it might as well be for good reasons — not for looking odd.
And as it turns out, the market was ready for a cool looking electric car— and they were willing to pay for it: The first generation Tesla Roadster went for between $80,000 and $120,000.
And it turns out that it was by going after the high-end market and the premium prices they were able to command that allowed Tesla to invest in itself, improve its technology and build the mainstream cars that have made them the company they are today.
TSLA Stock
Which brings us to the present… After peaking just over 400 in November 2021, Tesla (TSLA)’s stock has been on kind of a downhill roller coaster.
Despite all the twists, turns and dips, Jeffry has had a long time downside target of between 144 and 160.
And just before TSLA earnings last week, as the stock settled right into that range, he told us that it’s possible it might bounce…
At the time, that seemed impossible because the chatter in markets has been about reduced demand for EVs and how Tesla is having trouble moving cars.
Which was true, but Elon was able to put a good face on the poor earnings and as soon as earnings were announced, the reaction was swift and strong with the stock spiking more than 12% overnight.
From its lowest low of 138 to its highest high at 198, it jumped more than 43% over the next few days before bumping its head on the 200 level and settling around 180.
Now, Jeffry tells us the stock faces significant upside resistance. Especially up to the 207 range. But if and when it can work through that, he’s got major, longer-term upside targets of 350 and even 500.
We wouldn’t call this a tradeable opportunity yet. But keep your eye on TSLA.
— The Jeffry Turnmire Trading Team |
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