Tesla Motors Inc (NASDAQ:TSLA) is one of those companies people just can’t take their eyes off of. Not only are electric vehicles set to do big things in the years to come, but the cars from this company are in a class of their own. Tesla has come up with a way to mix fuel efficiency with style and power, which is something many others are trying to duplicate.
Furthermore, Tesla also has the “Elon Musk” effect. With Musk as CEO, the sky is the limit.
Many find themselves asking if Tesla Motors Inc (NASDAQ:TSLA) is a good stock to buy. Despite the fact that things have slowed down over the past couple of months, many believe that a resurgence is in the stars. By getting in now, you may be able to take advantage of any jump that happens in the months to come.
For more on where things stand and where they may be moving as the first quarter comes to an end, we don’t have to look any further than a recent CNBC video.
Throughout the first nine months of 2013, Tesla was on a roll. However, something strange happened on September 30. The stock took a nosedive, eventually falling as much as 40 percent. As you can imagine, this began to worry investors.
But what is on tap for the new year? Well, here is what Dan Nathan of CNBC had to say:
“It looks like we may be approaching the potential of a breakout period. This is a really important point. If you are a momentum trader and want to play for this sort of move, it has got to get through their convincingly on volume. I will say that the report earnings next week, they already preannounced the fourth quarter sales of 6,900 Model S’, that got the stock going back in January.
While Nathan does not expect Tesla Motors Inc (NASDAQ:TSLA) to go to the moon, at least in the near future, he feels that it has the potential to move another leg up. For those who are a long term Tesla bull, and have been watching for this type of momentum, now may be the time to jump in on the action.
There is no denying the fact that momentum is on the side of Tesla Motors Inc (NASDAQ:TSLA) for the time being. A big drop late last year has gave way to nice gains, with investors hoping for more of the same.