Tesla Motors (TSLA) is seeing its TSLA stock boom following a high Model S rating in Consumer Reports’ annual survey and kudos from Morgan Stanley.
TSLA stock is up 6% in early morning trading and some 30% in the past several days.
Tesla was heaped with research recommendation praise by Morgan Stanley days ago and shares jumped upwards of $260 on Tuesday from the previous close of $218.
Then there was the Consumer Reports’ Model S rating — which gave another boost to TSLA stock.
… fourth-quarter results reignited Tesla’s momentum in the stock market, which faded a bit late last year. After falling below $130 last October, Tesla sharesblasted through $200 last week and rose to a high above $250 on Tuesday. Tesla debuted on the stock market in 2010 at less than $20 a share.
And more good TSLA stock news is expected to come this week.
Tesla is expected to officially announce plans to open a massive new lithium battery factory, dubbed the “Gigafactory,”which CEO Elon Musk says will have capacity equal to all factories making such batteries around the globe.
The factory is part of Tesla’s plan to produce an “affordable” electric car for mass production that would compete on the global market.
In the past, Tesla blamed it selling less cars than it wanted on the limited supply of batteries.
The electric carmaker is worth an estimated $30 billion — a little over half of what General Motors is valued at.
TSLA stock is up 661% from this time last year.