Tesla Motors (TSLA), the electric car company, turned it's first ever quarterly profit on Wednesday night. TSLA stock popped over 30% at one point on Thursday. So what is the outlook for Tesla (TSLA) going forward?
Tesla (TSLA) stock hit a high of $75.77 on Thursday but dropped back to $69 into the close. Goldman Sachs downgraded TSLA with a $61 price target. My advice is to only buy TSLA on a break through the high of the day or below $60. A break above $75.77 would most likely net you with a 5% gain to $79-$80.
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