The rise of Tesla stock shows no signs of slowing down.
As February kicks off, the electric vehicle manufacturer is experiencing remarkable growth. Within a short span, Tesla’s stock price has skyrocketed from $650 to over $900, an exceptional climb in just a few trading days. The company now boasts a market value of approximately $165 billion.
What is propelling this sudden upward thrust? While there are no major new Tesla initiatives, recent activities among the company’s stakeholders have caught attention. Notably, Saudi Arabia’s Public Investment Fund decided to sell off their Tesla shares in the fourth quarter. Although this move might not appear positive at first glance, considering the substantial amount of Tesla shares held by the PIF now available in the market for purchase could be a key factor driving the surge in Tesla’s stock valuation.
Despite this surge, industry experts express reservations about viewing Tesla as a stable long-term investment. The stock will likely require continual adjustments even if the upward trend persists, and any misstep like Elon Musk’s previous controversial radio appearance could swiftly halt this momentum. Nevertheless, in the interim, if you are willing to take some risks, investing in Tesla could prove lucrative.
