Elon Musk Hasn't Sold Tesla Stock in Three Years, Bought $1 Billion Worth Last Year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
0mins
Source: Benzinga
- Stock Stability: Elon Musk stated he hasn't sold Tesla stock in three years and instead purchased over 2.57 million shares last year, valued at nearly $1 billion, demonstrating his confidence and commitment to the company's future.
- Lithium Refinery Launch: Tesla's newly established lithium refinery in the U.S. is the first of its kind in North America, aimed at extracting lithium oxide from spodumene, which is expected to positively impact Tesla's energy storage business and strengthen its market position.
- Market Reactions: While Musk's holding strategy garners attention, Ross Gerber, co-founder of Gerber Kawasaki, noted that Musk's close ties with Trump could negatively affect the EV sector, reflecting a complex market perception of his leadership.
- Future Prospects: ARK Invest's CEO Cathie Wood praised SpaceX as a potential trillion-dollar company, even as ARK recently sold Tesla shares worth about $37.8 million, indicating investor interest in Musk's diversified ventures.
Analyst Views on TSLA
Wall Street analysts forecast TSLA stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for TSLA is 401.93 USD with a low forecast of 25.28 USD and a high forecast of 600.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
30 Analyst Rating
12 Buy
11 Hold
7 Sell
Hold
Current: 438.570
Low
25.28
Averages
401.93
High
600.00
Current: 438.570
Low
25.28
Averages
401.93
High
600.00
About TSLA
Tesla, Inc. designs, develops, manufactures, sells and leases high-performance fully electric vehicles and energy generation and storage systems, and offers services related to its products. Its segments include automotive, and energy generation and storage. The automotive segment includes the design, development, manufacturing, sales and leasing of high-performance fully electric vehicles, and sales of automotive regulatory credits. It also includes sales of used vehicles, non-warranty maintenance services and collisions, part sales, paid supercharging, insurance services revenue and retail merchandise sales. The energy generation and storage segment include the design, manufacture, installation, sales and leasing of solar energy generation and energy storage products and related services and sales of solar energy systems incentives. Its consumer vehicles include the Model 3, Y, S, X and Cybertruck. Its lithium-ion battery energy storage products include Powerwall and Megapack.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
