TSLA Stock Forecast: Tesla Inc extends streak to seven as Berlin opens doors for Europe
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get all exclusive analysis, access our analysis and get Gold and signals alerts
Elevate your trading Journey.
UPGRADE- NASDAQ:TSLA gained 0.52% during Wednesday’s trading session.
- Tesla opens the doors to European growth through its Berlin GigaFactory.
- LG is opening a new battery plant in Arizona to supply Tesla.
NASDAQ:TSLA surged past the $1,000 plateau Wednesday morning, but market weakness in the afternoon saw the stock close below the mark. Shares of TSLA gained 0.52% and closed the trading day at $999.11. The stock touched as high as $1,040 out of the gate this morning, but rising oil prices and a spike in the ten-year treasury bond yield sent the equities lower into the close. All three major indices closed the session lower, as the Dow Jones dropped by 448 basis points, while the S&P 500 and NASDAQ fell by 1.23% and 1.32% respectively during the session.
Stay up to speed with hot stocks' news!
On Tuesday, CEO Elon Musk officially opened the Berlin GigaFactory to much celebration from Tesla fans and shareholders alike. The factory gives Tesla a firm foothold in Europe and will reduce the costs of shipping vehicles from the US and Shanghai. Berlin’s capacity is expected to reach upwards of 500,000 vehicles on an annual basis, which will definitely give domestic brands like BMW and Volskwagen stiff competition. Some analysts are also expecting Tesla to build vehicles in Berlin that will be suited more for the European consumer, something it has already done in the US and China.
TESLA stock news
Korean tech giant, LG, is building a new factory in Arizona to build batteries that will supply Tesla and other companies. The news comes on the heels of Japanese electronics company Panasonic announcing that it will build its own battery plant in either Oklahoma or Kansas in the next couple of years, also to supply Tesla. As the EV industry grows in the US, so too does the infrastructure needed to supply EV makers with critical parts and supplies.
- NASDAQ:TSLA gained 0.52% during Wednesday’s trading session.
- Tesla opens the doors to European growth through its Berlin GigaFactory.
- LG is opening a new battery plant in Arizona to supply Tesla.
NASDAQ:TSLA surged past the $1,000 plateau Wednesday morning, but market weakness in the afternoon saw the stock close below the mark. Shares of TSLA gained 0.52% and closed the trading day at $999.11. The stock touched as high as $1,040 out of the gate this morning, but rising oil prices and a spike in the ten-year treasury bond yield sent the equities lower into the close. All three major indices closed the session lower, as the Dow Jones dropped by 448 basis points, while the S&P 500 and NASDAQ fell by 1.23% and 1.32% respectively during the session.
Stay up to speed with hot stocks' news!
On Tuesday, CEO Elon Musk officially opened the Berlin GigaFactory to much celebration from Tesla fans and shareholders alike. The factory gives Tesla a firm foothold in Europe and will reduce the costs of shipping vehicles from the US and Shanghai. Berlin’s capacity is expected to reach upwards of 500,000 vehicles on an annual basis, which will definitely give domestic brands like BMW and Volskwagen stiff competition. Some analysts are also expecting Tesla to build vehicles in Berlin that will be suited more for the European consumer, something it has already done in the US and China.
TESLA stock news
Korean tech giant, LG, is building a new factory in Arizona to build batteries that will supply Tesla and other companies. The news comes on the heels of Japanese electronics company Panasonic announcing that it will build its own battery plant in either Oklahoma or Kansas in the next couple of years, also to supply Tesla. As the EV industry grows in the US, so too does the infrastructure needed to supply EV makers with critical parts and supplies.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.