Why Goldman Sachs Price Target May Be Too Low, S&P Update, Short Sellers (12.03.20)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 4 December 2020
⏱️ 16 minutes
🧾️ Download transcript
Summary
➤ Goldman Sachs has upgraded TSLA stock to a Buy rating and increased their price target on Tesla to $780 per share
➤ Rob Maurer analyzes the note from Goldman Sachs and discusses areas where the street-high price target may be wrong
➤ TSLA stock closes at all-time high
➤ Bloomberg shares data on S&P 500 benchmark funds
➤ Short sellers chime in on TSLA stock
➤ Michigan legislation prohibiting Tesla operations moves forward
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Music by Evan Schaeffer
Disclosure: Rob Maurer is long TSLA stock & derivatives
Transcript
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| 0:00.0 | Hey, Rob Mower here, and today we're going to talk a little bit about |
| 0:08.0 | Rob Mower here and today we're going to talk a little bit about Tesla stock. |
| 0:11.1 | We have an updated note from Goldman Sachs that came out in the |
| 0:13.6 | after market yesterday unfortunately just after I finished recording but we'll go through |
| 0:17.2 | the details on that then we also have a little bit of an updated information here on |
| 0:20.5 | the S&P inclusion process we also get to talk a little bit about a couple of |
| 0:24.2 | Tesla short sellers. It's been a while since we've had them in the discussion. |
| 0:27.6 | And then we have a couple of other stories as well. |
| 0:29.7 | All right, so looking at the stock, pretty strong day overall, of course, driven by the Goldman Sachs note after hours causing that big spike yesterday. |
| 0:36.5 | But today, Tesla finished up 4.3% to $590.38 that compared to the NASDAQ up 0.2 percent. |
| 0:43.7 | And though Tesla's peak today at $598 per share |
| 0:47.1 | was not an all-time high, the close of $590.3 |
| 0:50.4 | is an all-time high close. |
| 0:52.2 | Again today, this was on what I would call relatively low |
| 0:54.6 | volume about 41 million shares traded today at 62% of the annual average and about |
| 1:00.8 | 79% of the average for full days of trading since the S&P announcement. |
| 1:06.0 | There are now just 11 trading days left until Tesla is added to the S&P 500, so I don't know if we'll see volume |
| 1:11.6 | pick up next week, but the week after I would expect these numbers to rise and again a little bit later in the episode we'll talk about that S&P situation |
| 1:19.1 | But first I want to start off with this Goldman Sachs note so So as many of you have probably heard by now yesterday |
| 1:24.7 | in aftermarket trading, Goldman Sachs |
| 1:26.6 | issued an updated note on Tesla. |
| 1:29.1 | They have upgraded Tesla from Neutral to Buy, |
... |
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