Tesla took its investors to the moon this year and it provided more than 700% price increase alongside with record breaking sales during this pandemic that no one could have ever anticipated. It reached the status of the most valuable car maker in the world and what it had built until now it got recognized by getting into the elite companies in the world and simply jumping ahead the lines from the S&P 500 index. The historical date was on 21st December when it rolled into the new index and was traded on the New York Stock Exchange.
Until it's listing within the S&P 500 index it cause an avalanche all over the market with buyers rushing into getting a piece of the pie. The price was pushed towards the $700 mark almost reaching it ($695) and the volume jumped into the sky with more than 220 million TESLA shares being traded. It is amazing how the market lesson on buy on rumors sell on news keeps repeating itself and we see that reflected in the Tesla price stock as well. Current price is positioned around $645 so it provided some good opportunities for the smart investors to have sold on the ATH before index inclusion and just bought after to make some fast gains (that if the price will not continue to decline and maybe there is a better entry point to it).
Source: Statista
Tesla not only was included in the S&P 500 index alongside the other elite companies in the world, but it proved to be a heavyweight move with it getting into the Top 10 right away. It is positioned on 6th place, right after Facebook. While the first places are occupied by tech companies starting with Apple, Microsoft, Amazon, Alphabet and Facebook, Tesla follows very close to them and it enables car manufacturing with hi tech as well. And probably the future might provide us some nice surprises with Tesla being apple to embed technologies for the future and pivot in other industries as well.
Many would say that the price will fall, but I think that Tesla will still surprise us in the near future. I bought into it after the split around $500 mark and I could take a nice profit now, but I am still hold onto that looking to the future and considering this a medium to long term investment. If it will get to $1,000 probably I will be a seller, but not at this price point. And who know, maybe Elon Musk will finally pull the trigger and will get some Bitcoin for its Tesla investors rather than keeping the cash on hand in USD.
And maybe in closure of this post I can grasp your mind on where you are thinking that Tesla price is going and what entry point is a trigger for you to enter this investment...?
Posted Using LeoFinance Beta
