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Tesla (TSLA) Stock Crosses $900 as It Continues Its Mammoth Bull Run with 7% Surge

There’s seems to be no stopping to the Tesla bull-run these days! On Wednesday, February 19, the Tesla (TSLA) stock price surged a whopping around 7% in its biggest single-day-jump in the last two weeks.

During the day closing, the Tesla (TSLA) stock was trading at a price of $917 with its market-cap touching $168 billion. Furthermore, yesterday’s rally has also fueled the stock momentum hitting the 12-month prediction of several analysts. As on date, the year-to-date returns of the Tesla stock stand at over 125%. Similarly, the stats show that the stock price has tripled in the last twelve months.

Popular Wall Street analyst Alexander Potter (working at Piper Sandler) has raised the TSLA stock targets to $928 from $729. He said that the company’s push in new areas of clean energy generation and storage will drive the stock further. He added:

“By combining eco-friendliness with blistering 0-60 times and 21st century tech, Tesla has hot-wired human psychology and turned consumers into unwitting climate warriors”.

Potter also added that the next big challenge for the company is to make it cool to generate and store one’s own solar power. Besides, he also shares his personal experience of installing a solar power system to charge his Model X purchased in august 2016. Having clocked 50,000 miles run on his Model X, Potter has seen no range degradation. “We are convinced that Tesla’s automotive products offer a superior ownership experience,” he said.

Needless to say that apart from electric cars, setting up infrastructure for generating massive solar power is Elon Musk’s other dream project. Financial services company Piper Sandler says that Tesla’s solar business can soon catch momentum. Piper Sandler sees a whopping $165 billion annual market opportunity for Tesla, in a few years from now. In its note access by Yahoo Finance, the company wrote:

“It’s easy to forget that TSLA sells batteries and solar power products; after all, the segment was only 6% of sales in 2019. But management says that the solar+storage business will one day rival the Automotive segment, and if this is true, then investors will eventually need to pay attention”.

If this turns out to be true, Tesla could emerge a dominant force in the automotive and solar space. The company has already surged way ahead of other American automakers like Ford, Chrysler, and General Motors.

Over the last years, despite massive criticism, business tycoon Elon Musk has proved his rivals wrong with his rock-solid entrepreneurial and execution capabilities.

As part of its further expansion plans, the company is seeking to raise money from the market. Tesla has recently announced $2 billion in common stock offering during its Q4 2019 results. Just like Shanghai, Tesla plans to open its another gigafactory in European heartland Germany. However, the company has been facing some environmental regulatory hurdles in moving ahead with its plans.

Looking at Tesla’s unprecedented growth rate, analysts are bullish on the Tesla (TSLA) stock. Some market experts expect the Tesla stock price to hit $7000 or even$15,000 in just the next five years, by 2024.

Tesla (TSLA) Stock Crosses $900 as It Continues Its Mammoth Bull Run with 7% Surge

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