Tesla surged after last week’s earnings report despite posting a disappointing financial performance. The company’s stock price soared by over 12% the day after its report and has continued to climb, reaching $168.26, up about 16% since the earnings release. Additionally, it gained over 6% in pre-market trading on Monday. While this rally puzzled many value investors, Tesla supporters celebrated as Tesla’s Full Self Driving (FSD) technology appears to be gaining traction in China. Tesla has historically traded with a high price-to-earnings (P/E) ratio, as its investors focus on the company’s potential beyond just selling cars. They are optimistic about Tesla’s ability to achieve more than just electric vehicle sales, which has helped support the stock’s high valuation.
Currently I have a covered call option with a strike of $190 expiring this Friday. With today's pre-Market's up over 6% and it's stock price already reaching $180, I will have to monitor the price action closely. Will make adjustment to the option position by rolling it further out (date) and up (price) if need be, as am not ready for the underlying to be called away just yet.
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- Agxm·04-29That why this is a meme stocks.😂😂LikeReport
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- Gloria112·04-29🚀LikeReport