Tesla showing strength this year after the spike low in January!
Can we clear the head and shoulders topping pattern below?
Solid closes above 300 would partially reverse the especially negative outlook since we hit the spike top around 400 at the end of 2021.
Previous threads on this topic:
GOTTA LOVE THOSE GOVT. EV ROAD TRIPS
Started by 12345 - Sept. 12, 2023, 9:48 p.m. https://www.marketforum.com/forum/topic/98928/
Copy pasted from US News and World Report
Tesla went public on June 29, 2010 at $17 per share. TSLA stock, however, opened for trading at $19 per share, and finished the day at $23.89 – a stellar one-day gain of 40.5%.
Return calculations for what an average investor would have earned can't realistically assume a purchase price of $17 per share, as retail investors essentially had no way to buy stocks at their actual IPO price in 2010.
In calculating returns, it's more practical to assume the early Tesla investor purchased shares at its closing price of $23.89. In fact, shares traded below those levels for the majority of normal trading hours, so even this price is somewhat conservative.
If that were all there was to the story, this investment would have walloped the wider market over the last 13 years, rising nearly sevenfold.
But due to several aggressive stock splits in recent years, Tesla's long-term performance is even more impressive. There have been two Tesla stock splits in its corporate history:
To compare apples to apples, this means that the cost basis of the initial purchase price should be divided by 15, as one share of Tesla stock in 2010 would have turned into 15 shares by 2023.
On a split-adjusted basis then, the closing price of Tesla stock on June 29, 2010 was $1.59.
At market close on April 6, the stock closed at $185.06 – more than 116 times its adjusted closing price on the first day of trading.
A $10,000 investment in TSLA on the day of its IPO would be worth more than $1.16 million as of April 6.
Extremely impressive joj, thanks much!
Good morning with good news: US cumulative EV investment skyrocketed 5X or 400% since January 2022, rising from $32.6 billion to 165 billion! Since passage of IRA through August 10, 2023, $92.3 billion of EV investment flowed. Cost of EV batteries falls about 50% every 5 years.