Despite the skeptics, Tesla Inc broke above the significant $1,000 price level for the first time in its history this month. The new high further accelerated the bullish optimism surrounding the company.
Can Tesla stick the landing?
“There continues to be a lot of enthusiasm and upward momentum for the stock that is driven by expectations for increasing EV demand,” Ivan Feinseth of Tigress Financial said when asked about Tesla’s recent price action.
Increasing electric vehicle demand is a global trend, and not just in the U.S. Many countries are committing to cut out fossil fuels.
“There is going to be significant expansion into China. China has mandated 100% EV vehicle sales by 2030,” Feinseth said. “France also has a 100% EV mandate by 2030 as well.”