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It seems that a reversal and recovery are realistic prospects for the electric car manufacturer Tesla (NASDAQ: TSLA). After facing a perfect storm of less-than-expected numbers in the first quarter, analysts' negative sentiment and worries over demand for its vehicles, which led to a nearly three-year drop in inventory, Tesla closed Tuesday on an impressive start, up 8%. at $ 193.60.
Tuesday's recovery has allowed Tesla to recover more than $ 2 billion from its market capitalization, which has been accelerating since the publication of the first quarter production and delivery reports. It should be noted that, despite its massive rise of 8% Tuesday, the Tesla stock has again fallen by nearly 42% in 2019, making it the worst performance of the Nasdaq 100. Nevertheless, the surprise recovery of the Tuesday's company suggests that it could be far too soon to return Tesla for the moment.
Insofar as the sharp fall in Tesla's stock in recent months has been partially fueled by Wall Street analysts' reserves, analysts also appear to have helped boost the company's tide on Tuesday. During an appearance at the CNBC Fast moneyCarter Worth, a technical analyst at Cornerstone Macro, pointed out that TSLA's stock had gone down so much that it was a good buy. "Tesla has been so inferior that he's so good, it's good," he said.
Even Morgan Stanley analyst Adam Jonas, who made the headlines recently after posting a worst-case scenario at $ 10 a share for Tesla, reiterated Tuesday its performance rating and price target of $ 230 for the society. Morgan Stanley's analyst, hitting a noticeably more optimistic tone this time, said the company's action was of value, thanks to its fully autonomous technologies. "Tesla has a significant strategic value that we believe can potentially be crystallized to challenge traditional strategies. [valuation] techniques, "noted Jonas.
Last month, Gene Munster of Loup Ventures of TSLA strongly emphasized Tesla's unique edge in the electric vehicle market as its actions were being destroyed. In a recorded interview that was only made public today, Munster explained that in the electric car market, Tesla is simply in a category of its own.
"One of those performances is the performance of the battery. It is essential because the anxiety related to the autonomy of vehicles prevents people from buying electric cars. The second is the manufacturing process, which was considered a painful point for Tesla, and undoubtedly painful. But all they do is move the manufacturing of a traditional car to a real computer on wheels, "he said.
The winds could finally be at the rendezvous for the electric car manufacturer based in Silicon Valley.
Disclosure: I have no property on TSLA stock and I do not plan to create positions within 72 hours.
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