Tuesday, 14 January 2014

TSLA - surges higher

With the main equity market rebounding higher, Tesla (TSLA) was one of the big gainers, surging an extremely strong 15.4% to settle @ $160.76. Near term trend remains bullish, and a few daily closes in the 170s would open up new historic highs, but those will no doubt be dependent upon good earnings.

TSLA, daily


Today's gain of 15% was indeed one hell of a jump - on very heavy volume, even for what is unquestionably, one of the leading momo stocks.

Part of the gain is no doubt related to the broader strength/rebound in the main market. However, it would seem TSLA was climbing on nothing less than 'tweets' from the CEO Musk.

I will note, I continue to watch this stock purely for 'entertainment reasons', and have zero interest in ever trading it..along with any of the other crazy momo stocks. I have little tolerance with these periodic extreme down..or up moves.

*next earnings are not due until mid February.