獅山巡禮
投資雜談
Tesla stock rose again on Tuesday, making it six consecutive gains. Shares look overbought after their recent, epic run.
Tesla stock rose 2.8%, closing at $421.62, while the SP 500 and the Dow Jones Industrial Average fell 0.1% and 0.3%, respectively.
Shares shook off news of an investigation that the National Highway Traffic Safety Administration, or NHTSA, is looking into doors failing to open on some Tesla Model Ys.
Thats probably correct. NHTSA investigations precede recalls, and millions of cars are recalled each year in the U.S. Its part of the process of keeping cars on the roads in good working order. Through Friday, there were 28 recalls by some two dozen vehicle makers affecting 2.1 million cars, in September alone.
Through Tuesday trading, Tesla shares have risen for six consecutive daysgaining about $75, or almost 22%. There have been a few reasons for gains, including CEO Elon Musks $1 billion stock purchase. Tesla also appears to be on the cusp of expanding its self-driving taxi service to Las Vegas, and U.S. EV sales were strong in August ahead of the $7,500 federal tax credit going away at the end of September.
Gains have left shares with a relative strength measure north of 70, according to Bloomberg. Thats overbought, which is a term traders use that essentially means shares have gone up a lot, fast. It can be a sign that a stock is due for a pause,with the pool of new, bullish buyers drying up.
The last time Teslas relative strength was this high was in December, when shares traded for almost $490. That was a record high for shares, which then traded as low as $214.25 in April amid peak tariff fears.
There is no guarantee, of course, that Tesla stock will drop because its relative strength is high. Its something for investors to watch.
Teslas recent run caught the attention of CFRA analyst Garrett Nelson. He downgraded the stock on Monday, writing the stocks valuation has become decoupled from fair value and underlying fundamentals. Tesla stock is trading for about 164 times estimated 2026 earnings, according to FactSet.
Nelson maintained his $300 price target for shares.
Overall, 45% of analysts covering the stock rate shares Buy, according to FactSet. The average Buy-rating ratio for stocks in the SP 500 is about 55%.
The average analyst price target for Tesla stock is about $323 a share. More than 50 analysts cover the company, and only a few major brokers have price targets above the stocks closing price on Monday. The top five targets range from $440 to $550 per sharethe bottom five range from about $120 to $220.
Coming into Tuesday trading, Tesla stock was up about 2% so far this year and up about 81% over the past 12 months.
