Tesla shares pass £690, following leaps in value

Share prices for Tesla have more than doubled since a surge in stock values began in recent weeks. And the upward trend is predicted to continue.

Tesla stock jumps in price

Tesla shares have been leaping in value at rates few could have predicted in recent weeks. Its share price has more than doubled overall since the surge began.

That rather puts paid to those who said the Cybertruck would bring the electric car marque to its knees.

The news that share prices soared beyond $900 (£690) this morning will also upset those who bought and sold, for fear of the bubble bursting.

Tesla Model 3 Performance

The value jump isn’t without precedent, though. Tesla posted year-to-date revenue of $7.38 billion (£5.66 billion). That’s a slight increase on the year before, and a £292 million jump compared with Wall Street’s forecast for the company.

In terms of deliveries, the marque is anticipating early deliveries for those who put their name down for a Model Y. The good news continues in manufacturing, as production has ramped up at Tesla’s Chinese Gigafactory.

Tesla battery life loss

Others have suggested that how people look at the Tesla brand is key to its success. While carmakers are seen as slightly behind the times, Tesla is seen as closer to a tech company.

“We think they are pretty far ahead in battery and EV technology,” said Adam Jonas, an analyst at Morgan Stanley.

“Tesla has moved from being seen as an auto stock, to being seen as a tech stock… mentioned in the same breath as Amazon, Apple and Google.”

Tesla battery life loss

Early predictions are for further rises in stock prices. Naeem Aslam, chief market analyst at Avada Trade, says a £770+ stock price is possible next quarter. All of a sudden, the Cybertruck stock drop in November feels like a long time ago.

“Of course, one should always keep in mind that a small correction in the stock price is the usual practice,” he said “but as long as the momentum doesn’t die, the potential is always strong.”

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Ethan Jupp
I'm Content Editor at MR. Road trips music and movies are my vices. Perennially stuck between French hot hatches and Australian muscle cars.

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