OPINION: Tesla has turned plenty of heads, but one last milestone remains: joining the S&P 500.
Tesla has been disrupting the automotive industry and taking Wall Street by storm since its 2010 IPO. Its latest milestone: a trajectory that will take the electric vehicle manufacturer to “comfortably” more than 500,000 vehicles sold this year.
After all, Tesla posted positive earnings Wednesday, earning 99 cents per share under GAAP on a modest revenue increase. That builds on a return to profitability in its October report. If Tesla is on track for potential inclusion in the S&P 500 later this year and is posting consistent profits, should you rush to pile in? Or do Tesla shares already reflect this, and it’s time to “sell the news” after the stock’s recent run?
Sure, some of those may be irrational haters of the stock. As I’ve argued here on MarketWatch, bears who look down their noses at Tesla based on valuation models for stodgy, traditional blue chips are simply missing the point. But it seems dangerously naive to write off every investor in this massive constituency of short sellers as a Luddite stooge who is bound to get steamrolled.
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Here’s Why Tesla Stock Just Surged Past A Record $900 Per ShareI am a New York—based reporter for Forbes, covering breaking news—with a focus on financial topics. Previously, I've reported at Money Magazine, The Villager NYC, and The East Hampton Star. I graduated from the University of St Andrews in 2018, majoring in International Relations and Modern History. Follow me on Twitter skleb1234 or email me at sklebnikovforbes.com
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