Why Tesla Stock Jumped 7% Early Today
Shares of Tesla (NASDAQ: TSLA) roared out of the gate Monday morning and were up 7.1% at 10:55 a.m. EST, boosted by a bullish analyst note from investment bank Wedbush over the weekend. It's not a surprise that investors are excited: As multiple news outlets are reporting, Wedbush set a $1,000 "bull case" target price on Tesla stock, apparently predicting that it will double off of Friday's closing price of $489 and change. Here's why that enthusiasm might be misplaced: It is true that Wedbush said that Tesla stock could hit $1,000 in 12 months -- if everything goes right for the company.
