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Tesla (TSLA) stock is slightly down these days. However, the shares are very bullish both in the short term and in the long term, analysts suggest. The expected growth is partially supported by the prospects of a million-mile battery.
Tesla Inc (NASDAQ: TSLA) stock has been a topic of interest in the recent past to many in the market since it is among the best-surviving stocks with the coronavirus disruption. With the company expecting to deliver more than 700,000 vehicles by 2021 to customers, it will only be adding to its list of goodies ahead.
Yesterday Tesla (TSLA stock) closed at $799.17 which means that it lost around 0.52%. After hours it decreased a little bit more, by 0.071%.
The shares have made an impressive jump of almost 100% in the past five months, despite the gravitational pull of the Covid-19 pandemic. Mostly supported by the ambitious CEO Elon Musk, who has pushed for the Fremont factory reopening, ending up rubbing shoulders with the local authority.
In the first quarter, the company recorded impressive gains, with the company reporting that it made $5,985 billion in revenue. However, the shareholders bagged $0.09 per share (Non-GAAP) in the first quarter.
During the reporting of the Q1 results on April 29, the company declined to update any guidance for the year, whereby it suspended all guidance until Q2. Its argument is based on the facts on the ground, whereby coronavirus has infected 4, 333, 658 people as of May 15, according to the WHO. The nature of the virus has put so much on the hands of uncertainty.
Tesla’s shareholders have shown confidence that the company will be able to go through tougher times with lower demand. The confidence is bolstered by the fact that the company has a strong $8 billion cash position.
Million-Mile Battery as Game Changer for Tesla (TSLA) Stock and Future Business
In a news report through the mainstream media, Tesla plans to roll out the million-mile batter in collaboration with Contemporary Amperex Technology Ltd (CATL) probably late this year or early next year.
The batteries are expected to be a huge game-changer in the market price of Tesla electric vehicles. Essentially because the batteries will rely on technologies such as low-cobalt and also cobalt-free battery chemistries. Besides, the batteries will have special coating materials to help them reduce internal stress and hence store more energy for a longer period.
CATL has developed a simpler and also a cheaper way to package battery cells through a method known as cell-to-pack. The method removes the building cells in the middle stage, hence reducing the weight of the EVs.
Tesla’s customers remain optimistic about the company’s ability to deliver more with Elon Musk as their leader. As a result, its shares remain very bullish amidst the coronavirus disruption and also in the long term.