Is 2017 the year Tesla Motors Inc (NASDAQ:TSLA) motors higher? So far TSLA stock is off to a strong start. And after checking the rear view mirror, there’s definite reasons for bullish investors to hop on board with a bull call spread for a drive higher.
There’s also General Motors Company (NYSE:GM). The company just won Car of the Year for its Chevy Bolt EV, its first mass-market entry into electric vehicles. And when competition from other auto manufacturers enter the EV market in force — that will spell certain calamity for TSLA stock!
Some of Tesla’s 40% bearish short interest may also be muttering that Tesla will delay its Model 3 rollout which, because of its lower $35K price point, is supposed to compete head-to-head against the Bolt. Watch out TSLA bulls!
There’s also ominous chatter that Tesla will undoubtedly announce another secondary, or TSLA stock is burning cash and, and, and … and the list of bearish warnings is nonstop.
Nevertheless, TSLA is also up over 6% in just the second week of 2017 and shaking off some of those concerns for Tesla’s ‘cult’ of bullish investors.
It might also be pointed out Tesla has over 400,000 Model 3 sedan preorders and is sold out until mid-2018. Tesla, as an analyst from Baird recently noted, may also have an ace in its pocket with its energy storage business. The cult of TSLA is sounding a bit more grounded, yes?
Lastly, TSLA continues to look like it wants to motor north in 2017.