Tesla Inc (NASDAQ: TSLA) is having a relatively strong start to the trading session this morning. While the company has released no news and no SEC filings have been issued, we believe that we have found the reason for the movement. Today, we’ll talk about:
- Why TSLA is headed up;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
TSLA Gains Ahead Of Earnings
As mentioned above, Tesla is having a relatively strong start to the trading session, but no news has been released. So, what’s the deal? Why is TSLA headed up on a day where the market seems to be covered in red? Here’s why:
Tomorrow, after the closing bell, the company will be reporting its earnings. This particular earnings report is an overwhelmingly important one because it covers the quarter in which the company finally started to reach its production goals. So, investors are hoping that the report will be positive and seem to be loading up ahead of it.
This may be a good time to get in as TSLA has been marred by Elon Musk’s misleading statements, which drove the price of the stock down. Now, many believe that the stock is trading at a discount and that if earnings are positive, we could see a dramatic run. So, be prepared for this earnings report because it comes with the potential to earn investors serious gains.
Wht We’re Seeing From The Stock
Excitement fuels market moves and at the moment, investors seem to be excited about Tesla. With so much happening in recent months, the earnings report does have the potential to produce a positive surprise, which seems to be the fuel behind the run in the value of the stock this morning. As is normally the case, our partners at Trade Ideas were the first to alert us to the movement. At the moment (9:04), TSLA is trading at $266.33 per share after a gain of $5.38 per share or 2.06% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on TSLA. In particular, we’re interested in following the earnings news that the company will be releasing shortly and we’re hoping that the report generates the positive surprise that investors are hoping to see. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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