For the past week — from close of trading Tuesday, June 17, 2014, to close of trading Tuesday, June 24, 2014 — Tesla Motors Inc (NASDAQ:TSLA) rose 0.36 percent, which was roughly the same as the overall market.
During that time period, the Dow rose 0.06 percent, Nasdaq rose 0.30, and the S&P 500 rose 0.41.percent.
Last Friday, a Morgan Stanley analyst had great things to say about Tesla, calling it “arguably the most important car company in the world,” and predicting that the number of Tesla employees in the U.S. would rise from the current 7,000 to as many as 20,000 in seven years.
He said that Tesla would also indirectly support an additional 100,000 jobs in the U.S. His price target was $320.
Tesla continues to expand around the world.
It recently opened its first store in Stockholm, and the first Swedish Tesla taxi has appeared on the streets.
There was good news for Tesla in New Jersey, where the state recently prohibited Tesla from using its direct-to-consumer sales method.
The state’s General Assembly passed a bill that would allow Tesla to sell cars from its two stores again — plus add an additional two new stores.
The bill still has to be approved by the State Senate and the Governor before it becomes law, but observers expect that will happen.
Tesla may be facing competition in the green-energy arena from auto manufacturers that are working on hydrogen-fuel powered vehicles.
Toyota (NYSE: TM) announced today that it would start selling a hydrogen-fuel powered sedan in the United States and Europe in the summer of 2015.
The car will be priced around $69,000, which will make it roughly competitive with Tesla’s Model S, which now has a base price of $60,000.