2021year tesla inc outlook of stock prices
Tesla (NASDAQ:TSLA), which recorded a rise of more than 700 percent in 2020, is expected to continue its strong performance in 2021.
The stock closed its last trading day of 2020 at $705.67 after hitting a record high of $718.72 on December 31, last Thursday. The market capitalization is about $669 billion. Tesla, an electric vehicle manufacturer led by Elon Musk, announced over the weekend that fourth-quarter vehicle deliveries hit an all-time high despite the aftermath of the Corona 19. As a result, the buying movement is expected to increase.
Tesla delivered a total of 185,570 vehicles in the three months to December. The figure is up 61% year-on-year, and it also exceeded its earlier estimate of 174,000 units. Tesla, the world's most valuable automaker, succeeded in surpassing the previous record of 139,300 units in the third quarter of 2020.
On an annual basis, Tesla's 2020 delivery volume is 499,550 units, higher than Wall Street's estimate of 481,261 units, but less than the 500,000 guides recently suggested. It was a remarkable achievement considering that the plant in Primont, California, was closed earlier this year due to a blockade to prevent the spread of Corona 19. It is also noteworthy to announce that the Shanghai plant will begin production of Model Y and will be able to start delivery soon. Tesla is expected to continue its strong performance this week, and its market capitalization is expected to rise steadily with a goal of $1 trillion.
Tesla Inc. has somewhat of a cult following with its car owners. Tesla, co-founded by famed inventor and entrepreneur Elon Musk in 2003, designs, manufactures and sells electric vehicles and the batteries that power them. Tesla's luxury electric vehicles include the Model S sedan, Model X SUV and Model 3 entry-level sedan. It first hit the market with the Tesla Roadster electric sports car in 2008. The vehicles run only on electric power and the company is implementing Autopilot features that allow the cars to parallel park and provide lane control without the need of much human guidance. However, the Autopilot system has been blamed for crashes, including one in 2018 in which the driver was killed. Tesla says its Autopilot-equipped vehicles are nearly four times less likely to be involved in a fatal accident than automobiles overall. It also said the driver in the 2018 fatal crash ignored warnings from the car to take control of the vehicle. Tesla also makes the Powerpack, aimed at businesses and utility companies for energy storage, and the Powerwall home battery for consumers, which charges via solar panels and can power the home at night or be used as a backup power supply in the event of a loss of electricity. Tesla is based in Palo Alto, California.
Tesla's electric vehicle stocks include Toyota Motor Corp., Honda Motor Co., Ford Motor Co. and Chrysler Automobiles, which have been on the rise since early 2021.