"Tesla Inc.'s ( NASDAQ: TSLA) share price rose about 4% but then gave up that gain in the past week. CEO Elon Musk announced that the company's self-driving software would transition to a monthly subscription model, and rumors suggest Tesla is preparing to enter the Estonian and Latvian markets. Tesla stock is still 38.6% higher than six months ago, outperforming the S&P 500 in that time."
"However, Tesla stock is only 10.8% higher than a year ago, underperforming the Nasdaq. Yet, plenty of investors are still drawn to the EV market leader, which experienced a meteoric rise that has resulted in a gain of 27,545% since the company's initial public offering on June 29, 2010. It debuted at $17 per share, or roughly $1 per share when adjusted for stock splits."
"Regardless, investors are more concerned with the stock's future performance over the next one, five, and 10 years. While most Wall Street analysts will calculate 12-month forward projections, it is clear that nobody has a consistent crystal ball, and plenty of unforeseen circumstances can render even near-term projections irrelevant. 24/7 Wall St. aims to present some farther-looking insights based on Tesla's own numbers, along with business and market development information that may be of help to our readers' own research."
Tesla announced a transition of its self-driving software to a monthly subscription model and faces market-entry rumors for Estonia and Latvia. The stock gained about 4% briefly and is 38.6% higher than six months ago but only 10.8% higher than a year ago. Tesla delivered a 27,545% gain since its June 29, 2010 IPO. Tesla boosted earnings and revenue despite high interest rates. The Model S, Model 3, and Model Y led electric vehicle sales. Energy storage and the charging network supported revenue growth. Management has been cutting manufacturing costs.
Read at 24/7 Wall St.
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