The stock market is fighting a battle at the S&P 500 3,100 level, with investors trying to get a grip on how swift the economic recovery will actually be. It will be years before unemployment decreases to pre-pandemic levels, which means that consumer spending will be hampered for some time. I am waiting to see the S&P 500 breakthrough the 2,935 Fibonacci bound level, and I will be a broad base equity buyer if we can retrace to 2,800.
Tesla TSLA has had a tremendous run this year, more than doubling its stock price as other US automakers suffer. I love Tesla as a company and believe that they could take over the automotive world, but the risk/reward at its $1,000 per share price tag is just too high for me. Check my recent article for more color on Tesla: Will Tesla Take Over The Automotive World?
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This young company’s gigantic growth was hidden by low-volume trading, then cut short by the coronavirus. But its digital products stand out in a region where the internet economy has tripled since 2015 and looks to triple again by 2025.
Its stock price is already starting to resume its upward arc. The sky’s the limit! And the earlier you get in, the greater your potential gain.
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Tesla, Inc. (TSLA) : Free Stock Analysis Report
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