Furthermore, Elon Musk, Tesla’s CEO, announced that the company just produced its three millionth car, with a goal to achieve a ‘2 million vehicle run-rate this year. Musk further pointed to free cash flow generation of up to $7 billion over the past four quarters, driven mainly by the ramp-up in the Model 3. Meanwhile, Phil LeBeau, an auto and airline expert, joined CNBC’s Squawk Box to discuss what he saw at Tesla’s shareholder meeting, claiming that Tesla investors can be optimistic. He also added:
TSLA chart and analysis
The long and short-term trends are both positive, with the stock trading in the last month between $675.10 and $940.82. Looking at the yearly performance, TSLA did better than 94% of all other stocks, but it is down over 22% year-to-date (YTD). Examining the technical analysis, the support line is currently at $671.88, and the resistance zone is between $925.91 and $926.21.
Other highlights
Other highlights from the meeting included CEO Musk stating that he sees a mild recession in the next 18 months and asked about succession plans; he concluded that he is not planning on leaving the company any time soon. In his characteristic manner, Musk explained that the company would continue to run well even if he was ‘kidnaped by aliens.’ Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
