Wall Street just can’t stop talking about Tesla Motors Inc (NASDAQ:TSLA), and analysts and investors alike are on either of the two extremes. They either love it or hate it. Baird analysts raised their price target on Tesla, which has served to ratchet up the controversy even further.
Tesla Motors’ Good And Bad Numbers
CNBC’s Fast Money was the forum for yet another debate between Tesla Motors Inc (NASDAQ:TSLA)’s bulls and bears on Wednesday. Bruno J. Navarro reports that Jon Najarian of OptionMonster cited the company’s May decline in sales and 30 percent losses on its vehicles. He also mentioned a 95 forward price earnings ratio. He did say that the one good thing about Tesla Motors Inc (NASDAQ:TSLA) is the short interest, which is around 24 percent.
He also pointed out that there were 37 million shares of Tesla Motors Inc (NASDAQ:TSLA) traded in a single day and that on 14 of the 20 days in May which had recorded trades of Tesla, there were more than 15 million shares traded.
Tesla Glamorizes EV Cars
Steve Grasso of Stuart Frankel pointed to the public’s perception of the EV automaker, saying that no one else has been able to “glamorize electric cars” in the same way Tesla has been able to. Of course he admits that glamor alone isn’t enough to build a company that’s viable, but he said that it created momentum for the company.
According to Grasso, Tesla Motors Inc (NASDAQ:TSLA) can now move on to making a better battery and get “more people to buy the car.”
Who Hates Tesla Motors?
Dash Financial’s Mike Khouw said he actually hates the stock and that he didn’t see any rational reason to buy Tesla shares.
Also the question of whether other major automakers can make better EV cars than Tesla was briefly mentioned before the discussion was cut short.
As of this stock, shares of Tesla Motors Inc (NASDAQ:TSLA) were down less than 1 percent in Thursday morning trades. The stock will undoubtedly be one of high contention until it proves that it’s on top in the EV market.