Tesla (TSLA) Analysis from Sep-Nov 2024
Overview and History
Tesla was founded in July 2003, but quickly was acquired by Elon Musk, as the largest shareholder, in Feb 2004. Within the last 20 years, Tesla as become “one of the world’s more valuable companies in terms of market capitalization” (Wikipedia, 2024). Much of this is attributed to billionaire Elon Musk.
Current Performance
On September 3, 2024 TSLA closed at $215.26/share. On Nov 1, 2024, TSLA closed at $248.98/share. The overall return was 15.66%.
News and Current Events
With the recent US election results (and Elon being appointed by President Donald Trump), Tesla stock has shot up in price. The Guardian also reports “Musk has been pivoting Tesla into an artificial intelligence and robotics company” (The Guardian, 2024).
Outlook, Prediction, and My Recommendations
Tesla is a highly volatile company and can be a risky investment. Recent election results influence Tesla’s future value. Elon Musk’s relationship with President Donald Trump also affects this trend. It is suggested to slowly invest in TSLA in the future. I advise not to invest large amounts into TSLA at once.
Sources
Financial data is from Yahoo! Finance
Guardian News and Media. (2024, October 24). Tesla adds close to $150bn in market value on Best Day in over a decade. The Guardian. https://www.theguardian.com/technology/2024/oct/24/tesla-shares-elon-musk
Wikimedia Foundation. (2024b, November 12). Tesla, Inc.. Wikipedia. https://en.wikipedia.org/wiki/Tesla,_Inc.
Featured Image is AI Generated
