Tesla shares rise. Does one station cost + 5%?
Tesla shares soared above $ 650 after the company announced a solar-powered charging station opening in the Lhasa metropolitan area of the Tibetan Autonomous Prefecture. The growth of securities on Wednesday amounted to more than 5%.
Struggle for the Chinese market
China is the second-largest market for the American automaker, but the facility built in Lhasa was the first full-fledged Tesla charging station with independent energy storage.
The company pointed out that the station’s location by the abundance of sunlight in the mountainous area. The station’s opening takes place as part of the launch of Tesla Energy’s energy division in China, announced earlier.
A division of the automaker Tesla Energy develops and installs solar panels and stationary energy storage. Tesla Energy has mainly operated in the US market, so opening in China is essential for further development. Elon Max noted that the company’s division might even bypass the growth rate of the leading business for the production of electric vehicles in the future. But this is still a long way off.
Tesla previously announced the first phase of equipping ultra-fast charging stations for electric vehicles along the Silk Road. From Shanghai to Khorgosan, 27 Superchargers have. The total length of the section is 5,000 km, which is currently the longest route with charging stations in China.
Tesla is planning a whole route with super-fast charging stations to London. Currently, Tesla has built about 2.7 thousand Supercharger charging stations around the world.
Does one station cost + 5%?
Tesla stock has traditionally been overreacting to marketing-efficient news. At the same time, negative ones can remain without reaction.
The unit’s opening is an important step, but more attention to the station. The county’s population is approximately 550 thousand people, of which 100 thousand are migrants, which by the standards of China, to put it mildly, is not a densely populated area. The main activities for generating income for the local population are tourism, agriculture, and cattle breeding.
Do not forget about the real problems of the company, which at the moment have not.
Where is the goal for growth
Earlier it was noted that if the price passes above the level of $ 625-630, the most likely target for growth will be the range of $ 650-680. Currently, Tesla shares have a reserve to continue moving up and will probably be able to add in growth even before the end of the week, after which a local correction will begin to form.
If long positions when the price passed above the level of $ 625-630, then at the moment, you can think about fixing a part of the profit received as a result of a short speculative transaction.
Refinitiv’s current consensus forecast for Tesla shares is $ 652 per share, roughly on Thursday’s close of $ 656.
