Tesla Motors Inc (NASDAQ:TSLA), a manufacturer of electric cars and electric vehicle powertrain components led by billionaire Elon Musk, is buzzing these days to touch an all time high of $ 53.56 on April 26th, before closing the day at $51.20. Tesla Motors Inc (NASDAQ:TSLA), which is headquartered in Palo Alto, California was founded in 2003 and has an employee base of around 3000 people.
The reason behind this recent activity in stock price is also believed to be its upcoming financial results for the first quarter of this year, which are scheduled to be declared on the 6th of May. Also, earlier this month, the company entered into a partnership with Wells Fargo & Co (NYSE:WFC) and US Bank to create a revolutionary automotive financing product which will help Model S customers, and possibly, sales.
Photo Credit: Steve Jurvetson
Some of the other players in the industry are Honda Motor Co Ltd (ADR) (NYSE:HMC), Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM) but only Tesla Motors Inc (NASDAQ:TSLA) has the specialized competency to manufacture electronic vehicles.
While Mr. Market is betting big time on Tesla Motors Inc (NASDAQ:TSLA), there are players including some big hedge funds which have a bullish outlook on this counter. The largest bull among all hedge funds is Cupps Capital Management managed by Drew Cupps holding 598,943 shares of the company valued at $ 30,665,882. Drew also increased its stake in the company by 12% in the period under discussion.
Highside Capital Management managed by Lee Hobson holds the number two position with 284,325 shares in his portfolio. The value of his holding at the last closing price of $ 51.20 is $ 14,557,440. Highside Capital Management took a fresh position in this counter during the said period. Scout Capital Management managed by James Crichton And Adam Weiss, Alydar Capital managed by John Murphy and Bluefin Investment Management managed by Scott Burney are other names who are bullish on Tesla Motors Inc (NASDAQ:TSLA).
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